Analyst Predicts Ethereum (ETH) Bounce, Updates Outlook on XRP and Fantom (FTM)
Widely followed crypto analyst Michaël van de Poppe is predicting what might be in store for a trio of popular altcoins.
Van de Poppe tells his 613,800 Twitter followers that leading smart contract platform Ethereum (ETH) appears to have decent momentum after rallying back from monthly lows under $1,000 on June 18th and 19th.
“Great retest on Ethereum here.
Seems likely to have continuation towards $1,440.”
At time of writing, Ethereum is down nearly 3% over the last 24 hours, going for $1,161.
Moving on to enterprise-grade blockchain platform Fantom (FTM), the crypto analyst says he’s eyeing the altcoin’s price action on the lower time frame (LTF) as an indicator of whether or not FTM’s correction is over.
“FTM is interesting with the fact that we’re retesting previous highs here.
Not saying that correction is over, but it’s definitely an area that I’d want to see sustain (including LTF’s sweep of the lows and reclaim) in which a reversal should target a new high.”
Fantom is currently down 2% on the day, trading for $0.27.
Last on Van de Poppe’s watch list is XRP. While noting that many altcoins are consolidating after rallying last week, he sees XRP’s pullback to $0.34 from a Friday high above $0.38 as a potential launch pad for another surge.
“Everyone is always extreme in their words for the movements of a market.
At this point, many altcoins are just having a consolidative move after a breakout end of last week.
Good retest on XRP here. Would be my area for a potential long.”
XRP is in the red by 3.85% over the last 24 hours, currently changing hands for $0.34.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/tuzudesign/INelson/Sol Invictus
The post Analyst Predicts Ethereum (ETH) Bounce, Updates Outlook on XRP and Fantom (FTM) appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
