Market recovery, what’s next for ETH, XRP, AVAX, LINK, FTM.
CoinCu News will cover the price movements of 5 prominent cryptocurrencies, including Fantom (FTM), that are on the verge of hitting new all-time highs.
On November 30th, ETH / BTC broke out above a descending resistance line and a potentially symmetrical triangle (green symbol). The upside moved to a high of ₿0.088 in December.
However, since then the pair has declined and failed to hold above the previous resistance level. The price broke below this line (red symbol) on January 7th.
The next support is at ₿0.071. If the pair fails to regain this line anytime soon, it may fall to the rising support line at ₿0.063.
ETH / BTC daily chart | Source: TradingView
On December 18th, XRP / BTC broke the descending resistance line. However, it did not succeed in initiating a significant upward movement.
It is currently just above the April 1750 Satoshi support area, and a break below that could accelerate the decline.
Conversely, the next resistance is 2800 satoshis.
XRP / BTC daily chart | Source: TradingView
AVAX has been falling since November 21st when it hit an all-time high of $ 147. The token moved along a descending resistance line, reaching $ 80 zone as support on December 13th, all the way down to $ 75.5.
A break above this resistance line or a dip below the USD 80 horizontal support area is likely to set the direction of the trend.
AVAX / USDT daily chart | Source: TradingView
LINK has been trading within an ascending parallel channel since July 20th. On November 10th, it was rejected by the resistance line of the channel (red symbol) and fell quickly. This resulted in a low of $ 15.32 on December 4th. The subsequent upswing confirmed the channel’s support line (green symbol).
LINK is currently trading exactly in the middle of the channel (green circle). Whether it is reclaimed or rejected will potentially determine the direction of the future trend.
Daily LINK / USDT chart | Source: TradingView
On December 26th, FTM broke a descending resistance line that had existed since October 26th and continued to hit a high of $ 3.15 on January 5th.
After a short crash, FTM started another upward movement. On January 12, the US $ 2.65 zone was retaken to serve as support.
As long as the FTM is trading above this level, the trend can be described as bullish.
Daily FTM / USDT Chart | Source: TradingView
You can see the coin prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.