Traders could continue to flow into $NEAR, ATOM, $FTM and FTT if Bitcoin price continues to consolidate over the coming days.
) is attempting to form an inverse head and shoulders pattern, which will complete on a breakout and close above the overhead resistance at $44.80.The rising moving averages and the RSI in the overbought territory indicate that the path of least resistance is to the upside. A close above $44.80 could open the gates for a rally to the psychological level at $50 and then toward the pattern target at $69.42.
Alternatively, if the bears successfully defend the resistance at $44.80, the pair could drop to the 20-EMA. If the price rebounds off this support, the bulls will again try to clear the overhead hurdle. This positive view will be negated on a break and close below the 50-SMA.Fantom is in a strong uptrend. The price action of the past few days has formed an inverse which will complete on a break and close above $3.17.The bears may attempt to stall the rally at $3.
On the other hand, if bears pull the price below $3.17, the pair could drop to the 20-EMA. This is an important level to watch out for because a break and close below it could indicate that the current breakout may have been a bull trap. The pair could then drop to $2.80 and later to the 50-SMA.FTX Token has been in a strong corrective phase for the past several weeks. The bulls pushed the price above the downtrend line on Jan. 14, signaling a possible change in trend.
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