A popular crypto analyst says there are three Ethereum rivals standing out from the rest of the digital asset market.
The pseudonymous analyst known as Altcoin Sherpa says that smart contract platform Fantom (FTM), algorithmic stablecoin blockchain Terra (LUNA), and decentralized application (DApp) platform Near Protocol (NEAR) are all showing considerably bullish market structures.
He points out that all of them are holding above the 200-day exponential moving average (EMA).
“FTM, LUNA, NEAR: Here are 3 coins that have maintained price above the 200D EMA and these are some of the coins that still look ok. I still think that it’s going to take a bit longer for a macro bottom to form but let’s see what happens.”
At time of writing FTM is trading at $2.02, while LUNA is changing hands at $55.97 and NEAR is priced at $10.93.
Altcoin Sherpa also adds Ethereum scaling solution Polygon (MATIC) to his group of altcoins that look solid.
“MATIC: Looks pretty good overall, still holding above the 200D EMA and the 4h EMAs all looking fairly healthy. I think we see more consolidation around here.”
Looking at Bitcoin, the closely followed analyst says that the top crypto by market cap also looks healthy and that another price spike may be approaching soon.
“BTC: I think we’re still ok in the short term. 4h EMAs look healthy and I think this squeezes a bit higher. Waiting to see if this is a confirmed higher low on the 1D.”
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Featured Image: Shutterstock/Bryan Vectorartist/Natalia Siiatovskaia
