The price of Bitcoin slipped 8.88% to $42,654 on Coinmarketcap. Market cap of the cryptocurrency fell to $808.445 billion.
Cantering Clark, a pseudonymous trader with 99,000 Twitter followers, says Bitcoin recent price behaviour resembles when it was trading near $30,000 before more than doubling in price in less than three months.
FTM Bulls In Control
Fantom, an Ethereum competitor, is also on the trader’s radar (FTM). FTM’s price movement, he says, appears to be extra powerful now that it’s at last month’s point of control, which is the level where the most volume was traded.
The market-wide negative tendencies were ignored by FTM. As the currency hangs around the $2.90 resistance level, the Fantom price bulls are taking control of the market. Although in the last 24 hours it has declined by 9 percent.
In the following upward step, FTM/USD might rise above $3.00. This crypto’s rough time appears to be gone as it attempts to establish a new trend.
It’s clear that a break above the $3 barrier will entice more buyers to boost their positions, driving the price above the channel’s upper border and into the resistance levels of $3.4, $3.6, and $3.8.
If the above-mentioned resistance levels are not breached, negative pressure may increase, with the support levels possibly being $2.5, $2.3, and $2.1.
Near Price Eyeing Massive Rally
Cantering Clark has recently developed an interest in NEAR altcoin. He believes, the NEAR price is poised for significant gains, and he’s willing to place buy orders nearly 30% below its current price of $17.00 in order to profit from rallies.
Currently NEAR is trading at $15.71 and it is down by more than seven percent. NEAR is under $18, which is currently functioning as resistance.
This is the next major stumbling block to examine. The cryptocurrency has hit a new all-time high on January 4, and it needs to break over that level to continue its surge.