Cryptocurrencies proceed to look downward unit arsenic sentiment crossed the equity marketplace besides weighs connected crypto assets.
Popular crypto expert and trader Michael van de Poppe has highlighted the adjacent imaginable moves for respective altcoins, including Polygon (MATIC), Fantom (FTM), and Enjin Coin (ENJ).
The expert besides highlights the method outlook for 2 different altcoins- Woo Network (WOO) and Verasity (VRA).
Van de Poppe besides believes flagship cryptocurrency Bitcoin could spot a decent bounce and interruption to the $46,000 terms level. This follows the cryptocurrency’s flip supra $40k aft a little dip to lows of $39,600 connected Monday.
Fakeout connected the downside for #Bitcoin. If $40.6K holds, continuation upwards to $42.6K and perchance $46K is connected the tables. pic.twitter.com/l8rACrtbhC
— Michaël van de Poppe (@CryptoMichNL) January 10, 2022
Fantom (FTM) is 1 to watch
Turning to the altcoins, the expert says that Fantom terms could spot different run, disconnected large enactment levels. He looks astatine the FTM/BTC brace arsenic indicative of the bullish resilience, noting that 0.0005 BTC makes a bully introduction constituent for the coin.
Michael van de Poppe believes FTM, alongside Cosmos (ATOM) and Chainlink (LINK), are immoderate of the altcoins that person shown large spot recently. He says if Bitcoin terms “settles”, past FTM would beryllium 1 of those altcoins to watch.
Once #Bitcoin is done and settles down for a bit, you'd privation to leap onto the coins that person been showing spot successful the past weeks already.
I'd see $FTM, $ATOM, $LINK arsenic immoderate of the coins that are showing monolithic spot recently.
— Michaël van de Poppe (@CryptoMichNL) January 8, 2022
The expert is besides keeping tabs connected Polygon, different coin that saw a monolithic tally successful 2021 but has faced accrued unit since the broader marketplace correction started successful December.
Van de Poppe says MATIC has the imaginable for different bullish interruption if prices flip supra a cardinal absorption portion astatine $2.15-$2.20.
ENJ and WOO besides look decent
As for Enjin Coin (ENJ), the crypto strategist notes that the extended correction has bulls looking astatine 2 captious enactment levels. The archetypal is astir $2.20 and the 2nd 1 could beryllium astatine the $1.90 area.
He notes that if prices clasp supra the 2 anchors, it’s imaginable for ENJ to spot caller upside momentum.
He says that ENJ has "two monolithic areas of support," zones astatine which helium would "personally privation to beryllium seeking for longs.”
Next up is WOO, the autochthonal token connected the Woo Network. According to van de Poppe, the token’s worth is apt to detonate if it breaks against Bitcoin. Currently, the WOO/BTC brace is priced astatine 0.00002214 BTC, with the altcoin 2.4% down against the apical crypto successful the past 24 hours.
Verasity (VRA) could soon emergence to 6800 sats
But the trader points retired that the coin has tested a cardinal proviso portion aggregate times and the imaginable for a bullish continuation is determination if buyers support hitting higher lows.
The different altcoin connected the analyst’s database of imaginable outperformers successful 2022 is Verasity (VRA). The terms of the token is down astir 25% successful the past 7 days, which the expert notes. The VRA/BTC brace is trading astir 6300 sats arsenic of writing, supra the enactment portion astatine 5335-5800 sats.
Van de Poppe says VRA could spot a caller bull question if it breaks higher supra the main absorption astir 6800 satoshis.
Request 01 – $VRA
Still trending south, but determination are 2 important enactment zones that I'll beryllium watching here.
Currently successful the archetypal one.
New bull question could commencement it if breaks supra 6800 sats. pic.twitter.com/vPEGEl9YTo
— Michaël van de Poppe (@CryptoMichNL) January 9, 2022