Even though Bitcoin (BTC) price witnessed sales above $45,000 on March 3, investors remain bullish. This inference could be based on a gradual stop by the bulls of selling in the $45,500 region. On the other hand, most major altcoins have lost double digits in the last 24 hours in response to BTC’s bearish momentum. An experienced crypto analyst thinks that 2 altcoins may start rallying after breaking critical resistance levels.
Phantom (FTM) and an Ethereum rival prepare to rally
Veteran crypto analyst Cantering Clark believes that Phantom (FTM) and another Ethereum rival are poised for rallies as the cryptocurrency market continues to show signs of life. The pseudonymous analyst says that on the Bitcoin pair (FTM/BTC), Phantom has surpassed the $0.000045 ($2.00) resistance level, thus preparing for a higher high:
FTM is pushing the resistance and moving against BTC. Is the joy of spinners returning to the game? It looks like it will ship.
Phantom is currently trading at $1.86, down 6% from yesterday’s price. It generally traded above this level on March 2. Another cryptocurrency could be tracking the price activity of FTM, according to the analyst.
Analyst shares another altcoin project tracking FTM chart
According to Cantering Clark, Harmony (ONE), a Layer-2 protocol for building cost-effective decentralized applications (DApps), follows the recent rise of FTM. For this reason, the analyst is comparing the technical charts below. He comments on the USDT parity of altcoins:
Just before the 10% boom, the ONE chart looks like FTM.
According to Cantering Clark, the functional cryptocurrency of the Harmony network, ONE, checks all the requirements for a bullish altcoin. The analyst shares his expectations in the technical part:
Currently, the ONE trend is in line with what you would expect before a breakthrough. Consolidation in the face of opposition.
It is linked pairings that guide. The volume-weighted average price is kept. Balanced, high tests are preferred.
At the time of writing, Harmony (ONE) has lost around 10% in the past 24 hours and is approaching the $0.15 region. The ONE is trading 59.74% below the January peak of $0.3798, following the peaks it formed in October 2021 and January 2022.