The cryptocurrency market is trying hard to recover after facing a sharp decline in recent days. The price of Bitcoin fell below $65,000 and the entire cryptocurrency market collapsed. Among them, there are several altcoins that are showing sudden strength, which may be accompanied by small changes in the trade dynamics of the sector.
Phantom (FTM)
- Fantom price has shown sharp strength since the last trading month, experiencing a significant rally before facing a slight pullback
- However, after enduring undue pressure, the bulls are working hard to validate the bullish rebound as the price is about to reach the key support at the 50-day moving average around $0.76.
- Additionally, the RSI is also trying to validate a bullish reversal, but still appears to be at an even lower high. Therefore, a rise above the average level could prove a breakout from the bearish claw.
- Meanwhile, trading volumes have fallen to their lowest levels, suggesting that a breakout could be imminent as a result of extreme compression.
- This is expected to cause the price to test the lower support of the 50-day SMA, revive a strong reversal, and quickly surge until it hits the upper resistance of the $1.3 expansion channel soon.
Aptos (APT)
- Aptos price had a long-term parabolic recovery, but was about to reach a neckline in advance
- As a result, the bears have been triggered and are doing their best to push the levels back towards the support of the curve.
- However, the support at $13.1 is an important foundation and a pullback could materialize and lead to a rally above $14.7.
- If the bulls fail, a bearish pullback could push the level closer to $11, which could fall below $10.
- The week’s closing price will therefore be very important for APT price, as a level closing above $14 could create a potential rebound, paving the way for a healthy rally towards $18. There is a possibility.
Milo (MYRO)
- Myro has shown good potential since the beginning of March and despite the pullback, the recovery phase is quick and strong enough
- The 0.5 FIB level has previously sparked a healthy pullback, and we expect a similar breakout in the coming hours if the bulls attempt a similar trade.
- Additionally, the Stochastic RSI is nearing a bullish crossover, supporting the bullish thesis.
- Therefore, if the closing price is bullish, the MYRO price is expected to cause a healthy increase and reach the 0.78 FIB level of $0.343 after some time.
