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Here’s an analyst’s outlook for FTM, MATIC and ENJ tokens

Here's an analyst's outlook for FTM, MATIC and ENJ tokens
Written by publisher team

Cryptocurrencies continue to face downward pressure as the sentiment in the stock market is also affecting crypto assets.

Famous crypto analyst and trader Michael van de Poppe has highlighted The next potential moves for several altcoins, including Polygon (MATIC), Fantom (FTM), and Enjin Coin (ENJ).

The analyst also highlights the technical outlook for two other digital currencies – Woo Network (WOO) and Verasity (VRA).

Van de Poppe also believes that the major cryptocurrency Bitcoin could see a good bounce and break the $46,000 price level. This comes after the cryptocurrency flipped above $40,000 after a brief dip to $39,600 on Monday.

Fantom (FTM) is one to watch

Turning to altcoins, the analyst says Fantom price could see another run, away from key support levels. The FTM/BTC pair is seen as an indicator of bullish resilience, indicating that 0.0005 BTC is a good entry point for the coin.

Michael van de Poppe believes that FTM, along with Cosmos (ATOM) and Chainlink (LINK), are some of the altcoins that have shown great strength lately. He says that if the price of bitcoin “stabilises,” the FTM will be one of those altcoins to watch.

Polygon (Matic)

The analyst is also keeping tabs on Polygon, another coin that saw a massive influx in 2021 but has faced mounting pressure since a broader market correction began in December.

Van de Poppe says that MATIC has the potential for another bullish break if prices flip above a major resistance area at $2.15-$2.20.

ENJ and WOO look good too

For Enjin Coin (ENJ), the crypto strategist notes that an extended correction causes bulls to look at two important levels of support. The first is around $2.20 and the second could be around $1.90.

It indicates that if prices hold above the two pillars, it is possible for ENJ to see fresh upward momentum.

He says that ENJ has “tHuge support areas, “areas he personally wants to look for for extended periods of time. “

Next up is WOO, the original code on the Woo Network. According to van de Poppe, the value of the token will likely explode if it is hacked against Bitcoin. Currently, the WOO/BTC pair is priced at 0.00002214 BTC, with the altcoin down 2.4% against the top cryptocurrency in the past 24 hours.

Verasity rate (VRA) may soon rise to 6800 sats

However, the trader notes that the currency has tested a major supply area several times and the potential for a continuation of the rally exists if buyers continue to reach higher lows.

The other currency on analysts’ list of potential superstars in 2022 is Verasity (VRA). The price of the token has fallen by nearly 25% in the past seven days, which the analyst notes. The VRA/BTC pair is trading around 6300 sat as of this writing, above the support area at 5335-5800 sat.

Van de Poppe says that VRA could see a new bullish wave if it breaks higher above the key resistance around 6800 satoshi.

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