Altcoins
Altcoins Gain Strength: FTM and TRX Prices Fight Bearish Heat: Here’s What to Expect
Bitcoin Price seems to be in “Dire-Straits” while some altcoins like Fantom & Tron are gaining strength. Since the Ethereum price showed strength, altcoins have shown themselves poised to rise. reach new heights in the latter part of the year.
Tron (TRX) Price Analysis
The March pullback sharply dragged TRX price by over 25%, marking the low at $0.104 but defending support at $0.1. After rebounding from the low, the price maintained a healthy upward consolidation, but remained stuck at $0.11 for almost two weeks. However, the token is oscillating within a crucial range and hence, an uptick in buying pressure could usher in a new bullish period.
TRX price has formed consistently falling lows and highs as bearish strength continues to swell. However, the bulls offered strong competition as levels remain elevated regardless of the bearish heat. The token remains stuck at the 0.23 FIB level and is striving to break above the 200-day MA, which serves as strong resistance. As the RSI has maintained a strong upward trend, the likelihood of the price crossing the trendline and reaching 0.38 FIB at $0.122 is imminent.
Fantom (FTM) Price Analysis
After losing more than 40% of its value in the last 30 days, the FTM Price has triggered a healthy rebound and is trying to stabilize a strong upward trend. The purchasing volume increased to some extent, which increased the volatility of the token. As a result, the price appears poised to establish a 25% upside to mark its presence in one of the important resistance zones.
FTM price has rebounded on the support of the ascending and expanding channel and is expected to maintain an uptrend over the coming days. The RSI has initiated a rebound as the MACD is about to undergo a bullish crossover and a sustained rise could push levels into the positive range. This could happen when Fantom (FTM) price is expected to maintain a healthy upside to reach the resistance zone between $0.732 and $0.76, while the $1 mark remains distinct.