- A crypto analyst widely followed by the crypto community, Ethereum rival is a popular altcoin. Avalanche (AVAX) presents a very important indicator for
Michaël van de Poppe to 623,400 Twitter followers Avalanche and many other altcoins have dropped below their 50-day moving averages due to last week’s price correction. told.
The trader says that if the tokens can retrace this moving average, it will trigger a “serious” price rally. According to the analyst’s chart, on AVAX approximately 2xA movement is expected.
“[50 günlük hareketli ortalamayı] undoing it will trigger some serious activations, same goes for AVAX.”
AVAX is trading at $23.19 at the time of writing. The 14th-ranked cryptocurrency by market cap has dropped 1.4 percent in the past 24 hours.
Phantom (FTM)
Van de Poppe is also an Ethereum (ETH) competitor. Phantom (FTM) He also mentions that it is currently consolidating and waiting to see if the US dollar reverses its upside trajectory:
“A daily order block of roughly $0.25 provides strong support. If the trend reverses, a quick rally to $0.365-0.37 is possible.”
FTM is trading at $0.307388 at the time of writing. The 65th-ranked crypto asset by market cap has gained 0.16% in the last 24 hours.
Van de Poppe, Bitcoin’He states that the recent price stability in (BTC) may also be a strength signal.
“It’s good for Bitcoin to hold steady while the rest drops heavily. If the euro reverses and stocks take a bounce, Bitcoin could have some good strength.”
Bitcoin (BTC) is trading at $21,532, up 0.33 percent in the last 24 hours at the time of writing.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.