The crypto money market seems to have entered a new phase with the leading crypto Bitcoin rising above $ 29 thousand. Altcoins like Phantom and dYdX mostly follow a similar route to Bitcoin. A trader and analyst known for accurate bottom predictions in this environment says that Phantom and two altcoins are giving warning signs for the crypto market.
Analyst: GRT, FTM and DYDX are on the brink of selling!
Bitcoin (BTC), after maintaining its resistance around $ 28 thousand, crossed the $ 29 thousand limit with a new move. Altcoins are also moving in the green zone, following the leading crypto in general. A crypto analyst who predicted the bottom of Bitcoin’s 2018 bear market, nicknamed Smart Contracter, says the three altcoins are giving warning signs for the rest of the crypto markets. For the analyst’s successful forecasts cryptocoin.comCheck out this article.
The analyst states that he reduced crypto holdings after examining the Phantom (FTM), The Graph (GRT) and dYdX (DYDX) charts. According to Smart Contracter, these three altcoins seem to be on the verge of a sell-off. The analyst expresses his opinion as follows:
I haven’t looked at any charts for the past few days because of Easter, but I’ve actually reduced some positions now after a decent scan. I see quite a few bear flags broken across many altcoins that may be giving warning signs for the rest of the market.
Technical view of altcoins from Smart Contracter’s window
Looking at the analyst’s chart, it can be seen that the leading altcoin Ethereum rival Phantom has already taken the diagonal support of the bear flag and the next support is around $0.386. At press time, FTM was trading at $0.466, up 2.57% on a daily basis.
Smart Contracter then migrates to Blockchain indexing protocol The Graph. The crypto analyst shares a chart showing that GRT is in the middle of an ABC corrective wave and is trading in a bear flag with a bearish target of $0.12.
At press time, GRT was changing hands at $0.1466, gaining 2.57% in the last 24 hours.
The analyst is finally taking a look at the decentralized exchange dYdX. Smart Contracter shares a chart to show that the altcoin has already left a bear flag.
At press time, DYDX was trading at $2.52, up 2.7% over the past 24 hours. Ranked #100 on the CoinMarketCap list, the altcoin hit an all-time high, reaching $27.78 in September 2021. However, DYDX, which saw sharp drops in the 2022 bear market, is currently 90% below its peak.
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