The US CPI data, which the markets have been eagerly waiting for, was announced and came above the expectations. However, the crypto market has turned green. In this environment, analysts share their predictions for altcoin projects that they see as bullish potential.
Phantom (FTM) suddenly increased 13%, what’s going on?
Although the highly anticipated US CPI data came in above expectations, Phantom (FTM) suddenly increased by more than 13%. The FTM token is trading at $0.494, up 4.03% in the last hour and 13% in the last 24 hours.
Earlier today, crypto analyst Ali Martinez observed some interesting network activity on Fantom. According to him, on-chain data shows a significant increase in empty FTM tokens exchanging hands. This was also matched by 8.83 million FTM tokens flowing into crypto exchanges and a 7.04 million FTM increase in supply on exchanges.
Despite the huge increase in the last 24 hours, FTM has fallen 12.19% in the past seven days after traders took profits. According to information released by the analyst, Santiment’s on-chain data showed that more than 246 million FTM tokens worth $113.2 million were sold or redistributed last week. After last week’s declines, Phantom managed to find support at $0.412 on February 13 and started an uptrend from there. FTM hit its intraday high of $0.498 at the time of writing and may be set to celebrate its second consecutive day of earnings.
Analyst predicts reversal for this altcoin
Crypto analyst Rekt Capital confirmed the bullish trend for decentralized payment processing network COTI Network (COTI). While sharing a screenshot of the chart analysis and explaining the patterns, the analyst noted that the price of COTI at $0.084915 is above key support. According to the analyst, COTI should show measurable stability around this region to generate some bullish momentum. If this happens, the price will climb towards the $0.1 level.
Recently, Rekt has paid close attention to the price development of COTI. In a post shared about 21 hours ago, Rekt stated that the price behavior of COTI is at $0.084861. This is a level he sees as weekly support. The analyst predicts that the level in question is critical for the future price development of COTI. According to Rekt, a close above this level will imply an uptrend, while a close on the other side will reverse the resistance support. In the overall trend, Rekt believes the $0.084861 level to be critical.
AGIX bull strength exceeds resistance
SingularityNET (AGIX) bullish strength has regained control after providing support at around $0.3377 over the past 24 hours. As a result of the bulls’ efforts, AGIX price surged 15.78% to $0.4239. Crypto analyst Kelvin Munene points out the following levels for AGIX and gives a bullish sign.
In response to the positive strength, the market attitude changed dramatically and many investors started investing in AGIX, seeing it as a chance to take profits. As a result, market cap rose 6.35% to $472,316,985, while 24-hour trading volume was down 16.88% to $145,847,361. Although the market mood is improving and investors are worried about buying AGIX, this decline indicates that demand is insufficient to support the recent significant price increase.
On the AGIX price chart, Bollinger bands are linear. The upper band is at 0.044565495 and the lower bar is at 0.34862090, indicating that a breakout is possible in either direction. However, prices will likely move higher as the price action crosses the middle band, showing a positive emotion, a green candlestick emerges and the Bollinger Bands have been narrowing for a while.
OCD, OP and APT are very close to reaching ATH!
cryptocoin.comAs you’ve followed, even though the crypto market is still in a bearish cycle, the cryptos on the board appear to be trading in their own parallel price channels. According to crypto analyst Danielle du Toit, this indicates that the market could go from bearish to bullish. The analyst says that the three altcoin projects appear to be leading the way into the bull market as they could hit all-time highs (ATH) before the end of this month. He explains his prediction as follows.
OKB is one of the very few cryptocurrencies that did not encounter bears in November 2022. This made its rally possible, which has been going on since November. However, this rally closed after a 195% gain about two weeks ago.
For OKB to reach a new ATH, the altcoin will need to rally around 14% to turn the $45.6 resistance into a support. This will act as a launching pad for further price hikes.
Aptos (APT) draws attention with its 472% price increase compared to last month. After a slight decline, APT is now trading close to the immediate support at $12.72. Once the immediate resistance at $14.70 is turned into support, a new all-time high is possible. This will allow APT to advance and surpass $18.50 as well as set an all-time high.
Altcoin price outlook and forecast for HBAR
Crypto analyst Jammy Hunts Hedera (HBAR) conveys what he saw in the technical drawing as follows. The altcoin is trading in the green today, breaking the sideways trend on February 11, 2023. The token is trading above the 50-day and 200-day Simple Moving Average (SMA), which is a bullish signal. It looks like the 50-day SMA will soon surpass the 200-day SMA, which could create a ‘golden cross’ on price charts. Support levels are $0.07075, $0.07496 and $0.08027, and resistance levels are $0.08978, $0.09400 and $0.09930. The Relative Strength Index (RSI) is at 68.88, close to 70, the overbought zone.
The HBAR MACD (Moving Average Convergence/Divergence) is above the signal line and is still rising to indicate a bullish signal. Expect HBAR to continue its uptrend and test the $0.08978 resistance level soon.
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