A widely followed crypto analyst is updating his outlook on Fantom (FTM), The Graph (GRT) and Fetch.ai (FET).
In a new strategy session, Michaël van de Poppe tells his 163,000 YouTube subscribers that Ethereum (ETH) rival Fantom could dip as low as $0.33 only to bounce up 50%.
“$0.65 is a level that is based on higher timeframes. The previous low block here [at $0.51], which most likely is becoming resistance, which we have been seeing here as well. If you use the order block theory, you can easily understand that this block around $0.48 is going to be giving you a massive bounce at this point. And in this case, we most likely see it as well. The candle was doing well.
If we don’t get it, we are looking at $0.38 and we’re looking at $0.33, that entire region, for either swing entries or second, we’re just buying the bounce, in which we can generate a bounce of 50% again.”
Fantom is trading for $0.427 at time of writing.
Next, the trader says blockchain indexing protocol The Graph could rally up to $0.21 if it breaks through $0.17.
“We’ve had this big run taking place here. We can mark the levels again. We can mark the level here as the daily, which is $0.095, and a second, if we get there, $0.13. It’s the ultimate next trigger because $0.095 probably going to give you the best entry for the next swing trade, $0.13 most likely as well, but it at least generates a bounce of 50% to 80% for you…
If we have this trade trigger here at $0.17, most likely we’re going to get a breakthrough $0.185 and then we start targeting $0.20 to $0.21, which also gives you 25% to 35% trade.”
The Graph is worth $0.161 at time of writing.
Lastly, Van de Poppe says Fetch.ai’s massive run has likely run out of steam and could enter a correction down to a low of $0.20. Although, he says if FET remains strong, it could continue to rally up to $0.90. FET closed 2022 at $0.094 and rallied to a 2023 high of $0.59 on February 8th, a 527% increase.
“Fetch is one that has been going absolutely mental. We went from $0.06 towards $0.60, taking out all these highs. So it could be that with this structure taking out these highs here [$0.60], we probably are at the end stage of this run for Fetch. I think that if we continue rallying, we go towards $0.90. But we could also easily correct all the way back towards $0.20 to $0.30 and have a buy-the-dip season there.”
Fetch.ai is worth $0.41 at time of writing.
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