Crypto markets might be showing signs of turning; at least MATIC, DOT and FTM. Not surpring. History shows that market drops prior to an expected event because investors are uncertain of what’s going to happen. After the event, investor no longer have to worry about the event and markets start their recovery.
Popular crypto analyst Michaël van de Poppe is predicting strong rallies for Polygon (MATIC) and Ethereum competitors Polkadot (DOT) and Fantom (FTM).
Van de Poppe tells his 573,800 Twitter followers that Ethereum-scaling solution Polygon is due for a bounce after successfully finding support at $1.20.
“Looks like we’ll be testing some higher levels as long as fundamentals remain like they are now. In that case, [a] $2 test might be possible.”
At time of writing, MATIC is exchanging hands at $1.44.
Another coin on the trader’s list is interoperable blockchain Polkadot (DOT). According to Van de Poppe, DOT could pull off a 55% rally and tap resistance at $27.04.
“Expecting this one to continue running here towards $27 as well, as long as everything remains normal.”
Polkadot is currently trading at $17.54, down over 2% in the last 24 hours.
Next up is open-source smart contract platform Fantom. Van de Poppe predicts a sustained rally for FTM to at least $1.90 after respecting support at $1.25.
“Same view on FTM here which is showing a heavy bounce from support. Expect tests to be happening at $1.90 and possibly $2.25, and then we’ll have to see.”
Fantom is trading $1.57, down nearly 10% in the last 24 hours.
Featured Image: Shutterstock/Fahimnadwi
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