Tuesday, February 7, 2023
    HomeBitcoinHere's an analyst's outlook for FTM, MATIC and ENJ tokens

    Here’s an analyst’s outlook for FTM, MATIC and ENJ tokens


    Cryptocurrencies proceed to face downward strain as sentiment throughout the fairness market additionally weighs on crypto property.

    Standard crypto analyst and dealer Michael van de Poppe has highlighted the following potential 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 might see an honest bounce and break to the $46,000 value stage. This follows the cryptocurrency’s flip above $40k after a quick dip to lows of $39,600 on Monday.

    Fantom (FTM) is one to observe

    Turning to the altcoins, the analyst says that Fantom value might see one other run, off main assist ranges. He seems to be on the FTM/BTC pair as indicative of the bullish resilience, noting that 0.0005 BTC makes an excellent entry level for the coin.

    Michael van de Poppe believes FTM, alongside Cosmos (ATOM) and Chainlink (LINK), are a number of the altcoins which have proven nice power just lately. He says if Bitcoin value “settles”, then FTM could be a kind of altcoins to observe.

    Polygon (MATIC)

    The analyst can be preserving tabs on Polygon, one other coin that noticed an enormous 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 an additional bullish break if costs flip above a key resistance zone at $2.15-$2.20.

    ENJ and WOO additionally look respectable

    As for Enjin Coin (ENJ), the crypto strategist notes that the prolonged correction has bulls two vital 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 potential for ENJ to see contemporary upside momentum.

    He says that ENJ has “two huge areas of assist,” zones at which he would “personally wish 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 prone to explode if it breaks towards Bitcoin. Presently, the WOO/BTC pair is priced at 0.00002214 BTC, with the altcoin 2.4% down towards the highest crypto prior to now 24 hours.

    Verasity (VRA) might 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 consumers hold hitting increased lows.

    The opposite altcoin on the analyst’s listing of potential outperformers in 2022 is Verasity (VRA). The worth of the token is down practically 25% prior to now 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 might see a contemporary bull wave if it breaks increased above the principle resistance round 6800 satoshis.

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