Cryptocurrencies made a strong comeback in August after the May / June crash due to the crackdown on cryptos in China, but the crackdown continued around the world making the market pretty bearish for the past two months. The sale appears to be over, however, as sellers appear exhausted and cryptos have been showing signs of wanting to reverse higher in the past few weeks. Litecoin finds support at $ 140 while Fantom is reversing higher today, so let’s take a look at these two digital currencies.
Litecoin Daily Chart – Can LTC Hit $ 300 Again In Early 2022?
Litecoin has potential and has gained ground in the mainstream as the number of traders accepting LTC increases, as does liquidity. Litecoin is one of the most liquid cryptocurrencies in the digital market. Volume is the number of coins investors have bought or sold in the last 24 hours and measures liquidity. Litecoin has a volume of 7.8 million coins with a value of 1.1 billion US dollars. The partnership with Visa to introduce the Litecoin Visa debit card is intended to further increase liquidity.
LTC / USD
But that has Litecoin didn’t help much. It has missed most of the gains the crypto market has made since September. Even the spike in early November that drove the price to $ 300 subsided pretty quickly, and LTC lost more than half of its value when it fell to $ 120 during the Flash crash earlier this month. However, the support was at $ 140, which has been held for almost a month. If something can’t go down, it will go up, so LTC / USD now begins to turn back higher. If the mood in the market improves, there is a good chance this altcoin will bounce back to $ 300 in the first few months of 2022. So this is not a bad place to start buying Litecoin.
Fantom Daily Chart Analysis – FTM will soon be the resistance break through at $ 2.50
Fantom is reversing up today to close bullishly in 2022
Fantom was really bullish from August to November, unlike Litecoin, but suffered a sharp drop in November and suffered heavy losses when sentiment in the crypto market turned negative. The price fell from $ 3.48 to $ 1.20, but the 200 SMA (purple) became a great support indicator for FTM / USD. That moving average lasted three tries and FTM finally turned bullish last week, rising to $ 2.45 which is a 100% gain.
Although resistance in this zone stopped rising on Monday, the pullback on the downside was weak. The price did not reach the next support at USD 2 and is already returning to the upside, showing buying pressure. Fantom and Avalanche what Layer1 blockchains are have aroused interest s Ethereum Gas fees remain high, which has helped add to the total value locked on these two cryptos, with the TVL amount for Fantom being more than $ 6 billion. So FTM will continue to be bullish and pullbacks below support levels should be seen as good opportunities to buy Fantom coins.
Source: Crypto News Deutsch