A popular crypto strategist and trader is mapping out what’s next for Ethereum challenger Fantom (FTM), Polygon (MATIC) and three other altcoins.
Michaël van de Poppe tells his 555,100 Twitter followers that Fantom, a highly scalable blockchain for enterprises, is currently trading at a key support level against Bitcoin (FTM/BTC).
“Very simple, it’s seen a big run. Based on that, the first area to look for spot longs is the one we’ve bounced from. Looking very decent.”
Currently, the FTM/BTC pair is trading at 0.000053 BTC ($2.23), which is hovering just above Van de Poppe’s entry point at 0.00005 BTC ($2.11).
Another coin on the trader’s radar is blockchain scaling solution Polygon. According to Van de Poppe, MATIC still looks bullish despite its recent correction as it continues to print higher highs and higher lows.
“The green zone is a crucial zone to hold. If it breaks above $2.15-$2.20, I’m assuming another bullish run can happen.”
Next up is blockchain gaming platform Enjin Coin (ENJ), which Van de Poppe says is closing in on two strong support levels after its sharp correction from the all-time high of $4.84.
“Two massive areas of support where I’d personally want to be seeking for longs.”
ENJ is currently exchanging hands at $2.23. According to Van de Poppe’s chart, the two points of interest are $2.20 and $1.90.
WOO, the utility token of decentralized fintech startup and pool trading platform Woo Network, is also on Van de Poppe’s list. According to the crypto analyst, WOO is threatening to take out a massive resistance and rally against Bitcoin (WOO/BTC).
“This one is building up for a big breakout. Constantly testing the resistance, while creating higher lows. Another break = bullish continuation.”
The last coin is high throughput blockchain Zilliqa (ZIL). According to Van de Poppe, Zilliqa has managed to take out its immediate resistance against Bitcoin (ZIL/BTC) and now looks poised to print a bullish higher low structure at 0.0000014 BTC ($0.05).
“This one has made a breakout upwards, just like altcoins in December were a great buy (remember ATOM and LINK?).
On an area of support right now, might be a good spot.”
At time of writing, the ZIL/BTC pair is trading at 0.00000142 BTC ($0.06).
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Source: https://dailyhodl.com/2022/01/11/heres-whats-next-for-ethereum-rival-fantom-ftm-polygon-matic-and-three-additional-altcoins-analyst-michael-van-de-poppe/