A crypto analyst, who became famous for predicting the 2018 bottom of Bitcoin (BTC), shared his predictions about 3 altcoins that could move upwards in the coming days.
Smart Contracter awaits rally in Ethereum-based altcoin projects
The closely followed technical analyst shared bullish prospects on Fantom (FTM), Ethereum (ETH) and an ETH-based altcoin project. According to the technical analysis provided by Contracter, these 3 altcoins are ready to continue their uptrend after breaking their cross resistances. Before continuing the article, you can take a look at the analyst’s accurate predictions here.
Smart Contracter discussed the FTM/BTC chart in its current analysis published on Twitter. The crypto analyst says the price of Phantom (FTM) could strengthen, taking a look at the pair’s recent price action. According to the analyst, the FTM/BTC pair has now broken many important supports and the FTM price may resume the uptrend it has been experiencing for the past few weeks. The descending channel and expected price movements of Contracter in USDT and BTC pair are as follows:
At the time of writing, FTM is trading at $0.4751, well above the analyst’s cross-resistance at $0.37. It has gained about 20% in value in the last 24 hours.
The Graph (GRT)
GRT, another altcoin on Contracter’s radar, is up over 10% over the last 24 hours. According to technical analysis, GRT price started to rise after pulling the ABC wave down. While the analyst did not specify any price predictions for GRT, he says that upward moves from this ABC structure are likely.
Ethereum (ETH)
Finally, Contracter talks about Ethereum looking extremely bullish. ETH has climbed from $1,400 to over $1,750 in the past few days. Considering this momentum, the technical analyst says that the weekly Ethereum chart is giving ‘mega bull’ signals.
damn $eth weekly looking hella bullish now, absolute solid buy back heading into the close pic.twitter.com/sgy21O2Uf3
— Bluntz (@Bluntz_Capital) March 12, 2023
Altcoin market more than makes up for recent losses
As Kriptokoin.com, we have included the US inflation data published during the day and the reaction of the crypto money market in this article. Bitcoin and Ethereum have gained more than 10% in the last 24 hours, following weekend losses and supporting the crypto market. The market’s total value also regained the $1 trillion threshold.
In details, Bitcoin surpassed $26,000 following the release of US inflation data. It has since been trying to erode a nine-month high of $26,200. On Monday, bets against Bitcoin shorts exceeding $100 million or a rise in price were liquidated. ETH also gained 10% on Tuesday, and crypto exchange OKEx’s token OKB rose 25%.
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