Price Analysis

Fantom (FTM) Price to Surge Beyond 15% Soon, While Polygon (MATIC) Price Feared to Drop Back South!

Author: Sahana Vibhute

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A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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BItcoin is finally making a huge run upwards after some consolidation and now appears to break towards the north to test the resistance at $32.8K initially and later at $35K. And while the bullish momentum is hovering, the altcoins like Fantom (FTM) is all set to make a large move. The FTM price that surged by nearly 15% in the past couple of days is all set to undergo a similar upswing of another 15% very soon

ftmprice

The FTM price bounced off the lower support which was pretty crucial to withstand in the wake of the descending trend ignited at the beginning of April. Moreover, the prices despite being rejected from $0.39 levels initially, regained the bullish momentum to achieve levels at around $0.522 slicing through the major resistance at $0.4. Woefully, the prices remain drained a little, but a significant recovery appears imminent. 

Polygon (MATIC) 

While the current market sentiments are turning to be bullish, MATIC price also bounced off from the lows. But woefully, the price still maintains a significant bearish trend as the prices appear to be stuck up within lower highs and lows. And hence a descending trend may be fast approaching that may drag the price towards the lower support close to $0.55 again. 

As the prices are being rejected just above $0.62 levels, the analyst believes the price could plunge below $0.6 to test the lower support between $0.59 to $0.57. However, the crucial support still lies around $0.522 in case of a worst bearish scenario which appears to be unlikely at the moment. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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