Ever since the UST’s de-peg which fuelled the mass BTC liquidation squashed the crypto markets, altcoins were exposed to severe negative volatility. Among them were some which managed to sustain the trembled conditions and ignited with a strong flip ahead. Therefore, altcoins like Fantom (FTM), Polygon (MATIC) and Zilliqa (ZIL) are expected to rise above the odds
Fantom price after rejection in the first few days of April continued to drop until now which was fueled by the market crash recently. However, the asset did halt the descending trend for a while and from the past couple of days, it’s attempting for a notable bounce. And hence, analysts believe a breakout from $0.36 to $0.38 levels may lead to assets reaching out towards $0.45 levels instantly.
After the recent flip from the bearish trend, the ZIL price is constantly hovering within a parallel channel. And hence the following the present rejection at $0.055, the price even if it dips has to hold at $0.049. Therefore, this may induce a strong bullish momentum which can open the doors for the levels around $0.0622 to $0.0067
MATIC price also showcased a similar trend after the recent fall from the monthly highs very close to $1. Currently, the price is closely hovering just below $0.65 and in case of a drop, the lower support levels close to $0.6 are required to hold strong. If failed then the lower support that it tested prior around $0.5 could be imminent. However, the recent flip fuelled the possibilities of the asset ranging towards the $0.7 barrier. And once these levels are cleared strong resistance at $0.806 may be imminent.
Collectively, altcoins are possessing some bullish momentum currently, which may offer them a short-time bounce off the support levels. However, it also has to be noted that these bounces may also result in a bull trap as the market conditions are pretty shaky and expected to drop. Therefore, the upcoming weekend may turn the tables for the crypto space and only prevent them from draining for a short time frame.