A widely followed crypto analyst is breaking down Bitcoin (BTC), Litecoin (LTC), Fantom (FTM) and one little-known altcoin that combines artificial intelligence (AI) and blockchain technologies.
Crypto trader Michaël van de Poppe tells his 643,500 Twitter followers that BTC is “trending down” after two harsh rejections.
[adinserter block="1"]“Still trending down.
– Harsh rejection at $16,800.
– Harsh rejection at $16,600.
Looks to be we’re testing the block around $16,400 again for Bitcoin.
If that sweeps and reclaims, US needs to bounce up.
Otherwise -> $16,200.”
BTC is trading for $16,625 at time of writing.
Looking at Litecoin, Van de Poppe says the payments-focused crypto is approaching a price zone that would be ideal for potential long trades.
“Litecoin got there faster than I expected it to get there.
Long regions approaching.”
Litecoin is currently going for $66.90.
The trader also analyzes layer-1 blockchain Fantom, naming two important price levels for FTM.
“Let’s see whether trend can switch on FTM.
Crucial resistance to break; $0.2025.
Crucial support to hold; $0.1990.”
FTM is currently valued at $0.202.
Finally, the analyst turns his attention to Fetch.ai (FET), calling the machine-learning blockchain “a strong one” on Tuesday.
“Shared this one earlier here, did make that bearish retest, but didn’t go as deep as I wanted to get the fill.
Ran away, and most likely will continue running if markets remain stable.
FET is a strong one.”
Re-visiting FET, Van de Poppe says the AI-driven blockchain has finally “hit the level.”
“Done deal, hit the level and strong bounce up on FET.”
FET is trading for $0.096 at time of writing.
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