Coin Bureau bullish with two large-cap Altcoins, issues a warning for Fantom (FTM) and Near Protocol (NEAR)
The host of the popular crypto channel Coin Bureau says that with two altcoins with large Market capitalization is bullish, adding that two others may need to see corrections before further rallies.
In a new video, the analyst known as Guy says he’s looking at the Fantom (FTM) smart contract platform. While he is bullish on the altcoin, its relative strengthindex (RSI) on an upcoming correction to point out.
“FTM looks strong on the charts, but the RSI suggests he’s running out of breath. We are also approaching significant resistance around the $ 2.60 mark. So keep an eye out if you also do FTM. “
The analyst says he’s pretty optimistic about Near Protocol (NEAR), a decentralized application platform (DApp), and Ethereum Competitor. Guy says NEAR fundamentals are building along with solid price action, but warns traders not to succumb to FOMO (fear of missing out).
“But don’t get too involved in the FOMO. The graph suggests that NEAR is as good as done, and we could see that it will drop to $ 12-13 in the coming days as it enters another phase of consolidation. “
The guy names two altcoins that he thinks will recover. That comes first DeFi-Log Aave. According to the analyst, Aave’s daily chart may need a cool down, but on a weekly scale, the altcoin appears poised to break the $ 300 mark and possibly by resistance running at $ 400, which is 53% off current prices.
“Aave’s pump, on the other hand, seems to get going. It was caused by the news that a Swiss bank called SEBA will integrate the institutional version of the Save protocol to allow their protocols to run DeFi in a compliant manner …
While Aave is somewhat exaggerated on the daily chart, the weekly chart shows that it has the momentum it needs to break the resistance zone at $ 300 in the months ahead. I suspect Aave will stutter around the $ 400 mark, which is the next zone of price resistance. ”
Second, Guy has his radar on Cosmos (ATOM) directed, a project that is supposed to be the “Internet of Blockchains” and expects new all-time highs to be just around the corner.
“The price movement of ATOM looks incredibly similar to that of Aave, as the weekly price momentum is massive. If we see one repeat of what happened in May, it won’t be long before ATOM does another All time high achieved.”
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Source: Crypto News Deutsch