Cryptocurrency investors are experiencing renewed market interest after facing significant challenges in recent years. Despite the influx of billions following ETF approvals, altcoins have not yet seen consistent upward momentum. Two prominent analysts have shared insights into the potential movements of FET and OSMO Coins, forecasting a major development that could impact the entire altcoin market.
Can FET Coin Break Key Resistance Levels?
A well-known cryptocurrency analyst, Efloud, has identified critical levels for FET Coin, maintaining an optimistic perspective. According to him, the $1.37 support level could hold firm in the short term, with potential rallies to $3.07 after surpassing $1.81 and $2.42. Efloud is ready to invest if the coin approaches these key areas or surpasses the resistance.
Will OSMO Coin Maintain Its Upward Trajectory?
Analyst Captain Faibik has revisited his analysis of OSMO Coin, highlighting past successes in his projections. OSMO has seen around a 30% rise, and if it avoids slipping back into a downward trend, a rise to $1.55 is possible. Faibik recently noted that OSMO is on the cusp of escaping a downtrend, potentially paving the way for a significant bull run.
Concrete conclusions drawn from the article are as follows:
- FET Coin could see significant gains if it pushes past resistance levels.
- OSMO Coin’s breakout from a downward channel suggests the possibility of a major rally.
- The upcoming cash release from FTX is anticipated to impact altcoin prices.
Bitcoin has surpassed $63,200, reversing its previous downward trend, though it has yet to firmly reclaim the $65,000 mark. A major event that could influence the crypto market is the impending return of funds by the FTX exchange. Analyst Crypto Rover anticipates that $16 billion will be refunded to creditors soon, potentially bringing significant capital into the market as stablecoins. If this scenario unfolds with low altcoin prices, substantial market gains could be realized, reminiscent of past market movements involving Mt Gox and Germany’s Bitcoin sales.