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A widely followed crypto analyst breaks down Bitcoin (BTC), Litecoin (LTC), Fantom (FTM) and a little-known altcoin that combines artificial intelligence (AI) and blockchain technologies.
Crypto trader Michal van de Poppetell, with his 643,500 Twitter followers, says BTC is on a “downtrend” after two harsh rejections.
“Always down.
– Severe rejection at $16,800.
– Severe rejection at $16,600.
It looks like we are retesting the block around $16,400 for Bitcoin.
If it sweeps and recovers, the United States needs to bounce back.
Otherwise -> $16,200.
Source: CryptoMichNL/Twitter
BTC is trading for $16,625 at the time of writing.
Regarding Litecoin, Van de Poppe says that the payments-focused crypto is approaching a price zone that would be ideal for potential long trades.
“Litecoin arrived faster than expected.
Long regions are approaching.
Source: CryptoMichNL/Twitter
Litecoin currently costs $66.90.
The trader also analyzes Layer-1’s Fantom blockchain, naming two important price levels for FTM.
“Let’s see if the trend can swing on FTM.
Crucial breaking strength; $0.2025.
Crucial support to hold; $0.1990. »
Source: CryptoMichNL/Twitter
FTM is currently valued at $0.202.
Finally, the analyst turns his attention to Fetch.ai (FET), calling the machine learning blockchain “strong” on Tuesday.
“I shared this one earlier here, did this bearish retest but didn’t go as deep as I wanted to get the fill.
Runs away and most likely will continue to run if markets remain stable.
The FET is strong.
Source: CryptoMichNL/Twitter
Revisiting FET, Van de Poppe says the AI-driven blockchain has finally “reached the level.”
“Deal done, reach the level and bounce hard on FET.”
Source: CryptoMichNL/Twitter
FET is trading at $0.096 at the time of writing.
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