Analysis

This is the next target for ATOM and FTM after the recession

ATOM and FTM appear bullish as buying pressure mounts. Both could retest the previous all-time high (ATH) if momentum is maintained.

ATOM price is stable

ATOM and FTM are beginning to recover from the recent market crash.

ATOM recovers quickly after bouncing off a critical support area. The price is up over 36% in the last 4 days and is just a tad below the previous ATH of $44.45. Despite last week’s sharp correction, it appears to have found a steady demand barrier that is acting as a recovery point.

From a technical point of view, the price has recovered from the middle trendline of the parallel channel in which it has been operating since September 2021. Each time ATOM breaks down to the lower boundary of this technical pattern, the downtrend hits the exhaustion threshold. But when the price moves back to the middle line or upper border of the pattern, it repeatedly rejects.

The recent rebound from the channel’s middle trendline suggests that ATOM is active in an uptrend and could touch the upper border of the pattern near $45. If the bullish momentum is strong enough, the price can break this resistance and move towards a new ATH of $66.

Source: TradingView

However, ATOM’s bullish outlook hinges on its ability to sustain above the trendline in the middle of the channel. A breakdown of support could put the bullish argument on hold and result in a drop to the lower border of the channel around $20.

FTM is looking for support

The recent downturn in the crypto market led to a 50% correction on FTM. However, the token appears to have found a strong foothold.

The 100 and 50 day moving averages (MAs) are very important levels for the FTM’s trend. These momentum indicators acted as strong support during the recent correction and prevented the price from falling any further. FTM must now continue to hold above this demand zone for the price to recover.

The price holding the $2.26 level as support will give FTM an opportunity to surge to $2.9. However, it must first close decisively above the $2.6 resistance to encourage marginal investors to re-enter the market.

FTM/USD | Source: TradingView

It should be noted that any signs of weakness around $2.26 could invalidate the optimistic outlook. Accordingly, this should trigger another correction from the 200-day ma at $1.67.

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

48 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

1 hour ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

3 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

4 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

6 hours ago

This website uses cookies.