• Crypto analyst Michaël van de Poppe recently analyzed Bitcoin (BTC), Fantom (FTM), Litecoin (LTC), and the AI altcoin, FET.
• Van de Poppe noted that BTC is trending down and witnessed two harsh rejections in the past week.
• He also opined that Litecoin’s native token (LTC) is getting close to a price zone that would be favorable for prospective long trades.
The year 2021 has seen its fair share of bearish and bullish trends in the crypto market. Most digital currencies have lost their 2021 gains in just a few months, leading to widespread expectations of a bear market. However, the crypto market has yet to show any bullish momentum. Amidst this volatility, a prominent cryptocurrency analyst has released his analysis of some digital currencies.
Michaël van de Poppe, a famous crypto analyst, took to Twitter recently to share insights into his price analysis of Bitcoin (BTC), Fantom (FTM), Litecoin (LTC), and the AI altcoin, FET. According to Van de Poppe, BTC is trending down and witnessed two harsh rejections in the past week. He pointed out that the rough rejections occurred at the $16,600 and $16,800 price levels, respectively. The analyst also noted that BTC might soon be retesting the $16,400 price resistance level. If BTC reclaims that price zone, the USD has to bounce up. However, if BTC fails to overcome that price resistance level, it would drop towards its next support level at $16,200.
Van de Poppe also expressed optimism about Litecoin’s native token (LTC). He opined that LTC is getting close to a price zone that would be favorable for prospective long trades. He said that LTC arrived at its destination sooner than he had anticipated and predicted that it will continue trending upwards if it manages to break the $125 price resistance level.
The analyst also provided an analysis of the AI altcoin, FET. While discussing FET in his analysis, Van de Poppe referred to it as a strong token. He noted that FET is still in a range-bound market and that it could soon be retesting its $0.51 resistance level. He added that if FET reclaims that price zone, it could possibly trend upwards and test the $0.56 resistance level.
Finally, the analyst also analyzed Fantom (FTM). He noted that FTM is still in a downtrend, but it could soon be retesting its $0.50 resistance level. Van de Poppe predicted that if FTM breaks the $0.50 resistance level, it could possibly trend upwards and test the $0.65 resistance level.
In conclusion, the crypto market is yet to show any bullish momentum and the year has been a bearish season for most digital currencies. However, Van de Poppe’s analysis of Bitcoin (BTC), Fantom (FTM), Litecoin (LTC), and the AI altcoin, FET, provides a glimmer of hope for crypto investors and traders alike. If these digital currencies manage to break their respective price resistance levels, they could possibly trend upwards and potentially experience significant gains.