Fantom Crypto (FTM) already in the bullish zone, Polkadot (DOT) rejected by the 50 SMA
The decline in the crypto market seems to have ended after a really bearish month in November and early December. Although the market isn’t exactly getting bullish aside from certain crypto coins. Fantom and Polkadot-Cryptos are bullish Cryptocurrenciesthat already resumed the uptrend last week so let’s see where they are going.
Fantom Daily Chart Analysis – FTM at $ 2.50 on the way up
Fantom coin made some huge gains from August to late October, gaining more than 10x in value, with the 20-day SMA helping the spike while previous highs kept coming back to support too. FTM / USD hit $ 3.47 and turned down in November when the crypto market turned bearish.
Fantom lost about 2/3 of its value when it dropped to $ 1.20. We watched this crypto and wanted to buy it for around $ 1 but the decline didn’t go that far. We saw a bullish reversal last week as sentiment in the crypto market began to improve and Fantom rose to $ 2.45. This showed the strength of Fantom as the major cryptos didn’t gain much while Fantom nearly doubled. Yesterday we saw a small pullback while today buyers are back in charge, so the pressure on this crypto remains on the upside. It should break above $ 2.50 soon and that All time high at $ 3.50.
Polkadot Daily Chart Analysis – DOT fails on first attempt at 50 Daily SMA
Will the 200 SMA now count as support for polkadot?
Polkadot launched Parachains last month, with Acala, Moonbeam, Parallel Finance, Astar and Clover being the first five to go live on the Polkadot network and applications for DeFi, Offer investments and loans. This will be the Blockchain-Give a significant boost to interoperability.
Although this is the DOT. failed to give coin a boost last month as it fell from a high of $ 55 to $ 24 in early December. As sentiment in the crypto market improved last week, while Polkadot reversed and surged above the 200-day SMA (purple), it failed to break above the 50-SMA (yellow). Today DOT / USD is falling after forming an upside down hammer yesterday, but this could be a good opportunity to Polkadot to buy at 200 SMA if it holds up as support. If not, then this month’s lows of $ 24 should be the next good level to buy DOT coins from.
DOT / USD
Source: Crypto News Deutsch