The crypto markets are trying hard to recover after facing an acute pullback in the past few days. Bitcoin’s price had fallen below $65,000, bringing the entire cryptocurrency market to its knees. Among them, there are some altcoins which are displaying acute strength and may go along with a minor change in the trade dynamics within the space.
Fantom (FTM)
- The Fantom price has been displaying acute strength since the previous trading month and after undergoing a huge upswing, it is facing a minor pullback
- However, after withstanding excessive pressure, the bulls are trying hard to validate a bullish rebound as the price is about to hit the crucial support at the 50-day MA at around $0.76
- Besides, the RSI is also trying to validate a bullish reversal but it still appears to be another lower high. Hence, a rise above the average levels may certify a breakout from the bearish claws
- Meanwhile, the volume has dropped to rock-bottom levels, suggesting a breakout could be imminent as a result of extreme compression
- With this, the price is believed to test the lower support at the 50-day SMA, revive a strong reversal and soar high to reach the upper resistance of the expanding channel at $1.3, shortly.
Aptos (APT)
- The Aptos price in the long term was undergoing a parabolic recovery but tried to reach the neckline ahead of time
- As a result, the bears got triggered and are trying their level best to drag the levels lower towards the support of the curve
- However, the support at $13.1 offers a significant base and hence a rebound could materialize, which may lead the rally beyond $14.7
- If the bulls fail, then a bearish pullback could lead the levels to drop close to $11, which may be extended below $10
- Therefore, the weekly close may be extremely crucial for the APT price, as the possibility of a rebound may arise if the levels close above $14, paving the way for a healthy upswing towards $18
Myro (MYRO)
- Myro has been displaying enough potential since the start of March and despite a pullback, the recovery phase has been quick and strong enough
- The levels at 0.5 FIB have triggered a healthy rebound previously and hence a similar breakout is expected in th next few hours are the bulls are trying out a similar trade
- Besides, the stochastic RSI is close to undergoing a bullish crossover which substantiates the bullish claim
- Therefore, with a bullish close, the MYRO price is believed to trigger a healthy upswing and reach 0.78 FIB levels at $0.343 in a while