Crypto NewsPolkadot (DOT)

Polkadot (DOT), Fantom Crypto (FTM) are already bullish?

Sentiment in the cryptocurrency market has been falling since early November after most Cryptocurrencies had made some extraordinary gains last October. They have taken sizeable losses during this period, but today we are seeing signs of a possible bullish reversal Polkadot and Fantom. Is the decline over for these two digital coins?

Polkadot Daily Chart Analysis – DOT Bouncing Off Support

Polkadot has made progress with parachanines and has already launched five of them, which increases the interoperability of the network as parachains create the connection between different blockchains. 21 of the 50 best-known fund managers in the world actively invested in DOT last year, making it one of the most sought-after crypto assets, followed by others DeFi-Coins.

Although market sentiment since the launch of Parachain was negative in November and DOT / USD is down from around $ 55 to $ 23. Although support has been held in this area, we see a rebound from there today as the price climbs to $ 26. So this could be the end of the decline for Polkadot and it seems like a good place to buy this cryptocurrency.

Fantom Daily Chart Analysis – The 200 Daily SMA is considered support for FTM

Polkadot (DOT), Fantom Crypto (FTM) are already bullish?, Crypto Trading News

FTM is moving above the support at USD 2.50

Fantom coin has shown increasing buying pressure in the past few months despite the declining sentiment in the crypto market. After pulling back in November, FTM / USD continued the uptrend in December, climbing from $ 1.20 to $ 3.20 while the market was still bearish.

Even the recent pullback has been weak when compared to the retreat of other digital coins. Transactions have increased, with more than 1 million processed on the Fantom network in one day last week. The expansion of the DeFi sector within the crypto industry has drawn a lot of interest at Fantom lately. Opportunistic capital was switched to Fantom with high yields on stablecoins of around 30-60% APR. So, that has kept FTM coin bullish and will continue to do so in 2022. Now FTM has already moved above the highest support as it bounces off the 100 SMA (green) meaning it is resuming the bullish trend.

Source: Crypto News Deutsch

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