Cryptocurrencies proceed to face downward strain as sentiment throughout the fairness market additionally weighs on crypto belongings.
Well-liked crypto analyst and dealer Michael van de Poppe has highlighted the subsequent attainable strikes for a number of altcoins, together with Polygon (MATIC), Fantom (FTM), and Enjin Coin (ENJ).
The analyst additionally highlights the technical outlook for 2 different altcoins- Woo Community (WOO) and Verasity (VRA).
Van de Poppe additionally believes flagship cryptocurrency Bitcoin may see an honest bounce and break to the $46,000 worth stage. This follows the cryptocurrency’s flip above $40k after a quick dip to lows of $39,600 on Monday.
Fakeout on the draw back for #Bitcoin. If $40.6K holds, continuation upwards to $42.6K and doubtlessly $46K is on the tables. pic.twitter.com/l8rACrtbhC
— Michaël van de Poppe (@CryptoMichNL) January 10, 2022
Fantom (FTM) is one to look at
Turning to the altcoins, the analyst says that Fantom worth may see one other run, off main assist ranges. He appears to be like on the FTM/BTC pair as indicative of the bullish resilience, noting that 0.0005 BTC makes a great entry level for the coin.
Michael van de Poppe believes FTM, alongside Cosmos (ATOM) and Chainlink (LINK), are among the altcoins which have proven nice energy not too long ago. He says if Bitcoin worth “settles”, then FTM can be a kind of altcoins to look at.
As soon as #Bitcoin is completed and settles down for a bit, you’d need to leap onto the cash which were displaying energy previously weeks already.
I would contemplate $FTM, $ATOM, $LINK as among the cash which are displaying huge energy not too long ago.
— Michaël van de Poppe (@CryptoMichNL) January 8, 2022
Polygon (MATIC)
The analyst can also be holding tabs on Polygon, one other coin that noticed a large run in 2021 however has confronted elevated strain for the reason that broader market correction began in December.
Van de Poppe says MATIC has the potential for one more bullish break if costs flip above a key resistance zone at $2.15-$2.20.
ENJ and WOO additionally look first rate
As for Enjin Coin (ENJ), the crypto strategist notes that the prolonged correction has bulls two crucial assist ranges. The primary is round $2.20 and the second could possibly be on the $1.90 space.
He notes that if costs maintain above the 2 anchors, it’s attainable for ENJ to see recent upside momentum.
He says that ENJ has “two huge areas of assist,” zones at which he would “personally need to be searching for for longs.”
Subsequent up is WOO, the native token on the Woo Community. In keeping with van de Poppe, the token’s worth is more likely to explode if it breaks in opposition to Bitcoin. At the moment, the WOO/BTC pair is priced at 0.00002214 BTC, with the altcoin 2.4% down in opposition to the highest crypto previously 24 hours.
Verasity (VRA) may quickly rise to 6800 sats
However the dealer factors out that the coin has examined a key provide zone a number of occasions and the potential for a bullish continuation is there if patrons hold hitting larger lows.
The opposite altcoin on the analyst’s checklist of potential outperformers in 2022 is Verasity (VRA). The worth of the token is down almost 25% previously 7 days, which the analyst notes. The VRA/BTC pair is buying and selling round 6300 sats as of writing, above the assist zone at 5335-5800 sats.
Van de Poppe says VRA may see a recent bull wave if it breaks larger above the primary resistance round 6800 satoshis.
Request 01 – $VRA
Nonetheless trending south, however there are two vital assist zones that I will be watching right here.
At the moment within the first one.
New bull wave may begin it if breaks above 6800 sats. pic.twitter.com/vPEGEl9YTo
— Michaël van de Poppe (@CryptoMichNL) January 9, 2022