Over the last 24 hours, the global cryptocurrency market capitalization increased by 0.50 percent to $1.63 trillion. The majority of cryptocurrencies are trading in the green today, as there has been a minor shift in the sentiment, with Bitcoin and Ethereum rising more than 8 percent. In the previous 24 hours, Solana and Avalanche have gained more than 15 percent.
Cardano , Fantom , and Harmony are all ‘Ethereum competitors’, according to popular crypto analyst Michaal van de Poppe.
Cardano
Cardano, the smart contract platform, must retake a crucial level, according to the crypto analyst and trader. He further said that ADA made a fake breakout above $1.50 and declined again. According to him, if the coin wants to retest the $1.50 level then it should flip and retest the $1.20 level once again.
At the time of writing ADA is trading at $1.05 and has gained more than four percent.
Fantom
Fantom, a highly scalable blockchain platform for decentralised apps (DApps), and enterprise applications, is next on the list.
Van de Poppe, , believes the FTM/BTC pair has held support around 0.00005 BTC ($1.81) and now needs to break through resistance at 0.000068 BTC ($2.48) to initiate a breakout rally. At the time of writing Fantom sits at $2.41 and has gained more than 18 percent.
“Crucial area to hold to avoid a nuke was the 6800 sats zone. Didn’t hold, nuke towards support and a strong bounce from that region already. Support between 5100-5400 sats (0.00005 BTC – 0.000054 BTC), resistance at 6800 (0.000068 BTC) sats. If that breaks -> new impulse wave.”
Harmony
Harmony, a blockchain focused on supporting a decentralised economy, is the last coin on the trader’s radar. Harmony may be poised for a bounce against Bitcoin (ONE/BTC) after respecting support at 0.000005 BTC or $0.18, according to Van de Poppe.
