The crypto market today shows a slight recovery with the TOTAL market cap of $2.14T and Bitcoin reclaiming the $61,000 mark, Ethereum (ETH) still struggling, XRP getting stronger and Solana (SOL) preparing for a surge in the short-term.
In the whole cycle, Thorchain(RUNE), Celestia(TIA), and Fantom (FTM) top the gainers’ list, and let’s analyze if the rally continues or settles here.
Thorchain (RUNE)
RUNE’s overall performance is disappointing, as the asset is been in a downward trend after the yearly high of $10.5 in March, and continues to lose major support zones.
Currently, on the Top of the gainer’s list, RUNE is trading at $3.68 with 24-hour growth of 12.76%. Recent pullback is considered to be another low-high but RUNE needs a strong higher high-low movement to gain back the momentum.
The recent price surge is attributed to the Kujira partnership news but looking at the analysis mid-term growth looks to continue.
In the RUNE/USDT Chart, we can see a falling wedge pattern forming, with upper resistance and breakout that would trigger an upward rally. Traders must closely watch this movement.
The RSI for the mid-term is near the neutral line, reflecting a slight correction, and MACD is making attempts to cross the signal line, which means the trend will remain for a while.
RUNE is currently trading under the major long-term moving averages, which is no good, and the ultimate support at $3.06.
Traders must wait for the asset to make moves above $3.8 resistance for a strong base to move ahead.
Celestia (TIA)
After a month-long decline, the correction wave ended last week at the support of $4.5. The recent surge is a result of increased accumulation since last week and increased fundamental updates.
TIA at the time of writing is trading at $6.15 with 24-hour growth of 8.29% and weekly growth of 24.54%.
TIA/USDT chart reveals interest factors, in the daily chart the asset breaks out of a falling wedge pattern, and in the 4-hour chart it is now forming an upward channel pattern. This usually results in leading to a sideway movement.
The RSI for tia now is at 61, in the neutral zone which means the asset still has room for accumulation. While MACD shows a bullish cross above the signal line.
TIA has plotted support at $5.14 and Resistance and $7.5, movement crossing in any direction will result in more impact.
Fantom (FTM)
Fantom’s yearly performance has been modest with yealy growth of 54%, whereas in the other altcoins liek Solana,Toncoin makes above 100%. FTM in the last 3 months is declined to lose major support zones by creating lower-lows and highs.
At the time of writing FTM is at $0.3073 with a 24-hour surge of 7.75% and a weekly surge of 16.78%, but the trading volume rising in a slow rare of 3.75%.
The recent fundamentals for FTM have been the trigger like the Whale’s activity in this week has been decreased.
This indicates the cooling of large transactions and may result in price rises with retail accumulations.
The FTM/USDT chart reveals the price moving in a downward channel with a downward resistance, and a breakout from here will shake bulls to make a strong upward movement.
The applied alligator indicator shows the price movement has woken up and the increased activity is expected for FTM.
For the short term, FTM has support at $0.337, and $0.3209, to rally it must need to flip the resistance of $0.39, which seems possible for the FTM coin.
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