Van de Poppe Lays Out The Path Ahead For FTM, MATIC, ENJ, WOO And ZIL
A leading crypto analyst and trader, Michaël van de Poppe, looks into Fantom (FTM), Polygon (MATIC), Enjin Coin (ENJ), WOO Network (WOO) and Zilliqa (ZIL) and lays out the path ahead.
Fantom (FTM)
Van de Poppe shared with his 556K followers on Twitter that Fantom is trading at a key support level against Bitcoin (FTM/BTC).
Fantom is a smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm. It aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.
“Very simple, it’s seen a big run. Based on that, the first area to look for spot longs is the one we’ve bounced from. Looking very decent.”
At the time of writing, FTM is trading at 0.00006111 BTC up 15.6% on the 24-hour chart.
Polygon (MATIC)
The second coin on the analyst’s list is Polygon (MATIC), which he says looks bullish despite its recent correction as it continues to print higher highs and higher lows.
Polygon is an Ethereum-based full-fledged multi-chain system (aka Internet of Blockchains), similar to Polkadot, Cosmos, Avalanche etc., but with the advantages of Ethereum’s security, vibrant ecosystem and openness.
“The green zone is a crucial zone to hold. If it breaks above $2.15-$2.20, I’m assuming another bullish run can happen.”
At the time of writing MATIC has broken above van de Poppe bullish level and trades at $2.38 up 15.4% on the 24-hour chart.
Enjin Coin (ENJ)
Van de Poppe next turns his focus on Enjin Coin (ENJ), which he says is closing in on two strong support levels after its sharp correction from the all-time high of $4.84.
Enjin provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.
“Two massive areas of support where I’d personally want to be seeking for longs.”
At the time of writing, ENJ is trading at $2.33, up 8.3% on the 24-hour window.
WOO Network (WOO)
Next up is WOO, the utility token of WOO Network, a deep liquidity network connecting traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at lower or zero cost.
WOO is threatening to clear a massive resistance and spark a rally against Bitcoin, According to van de Poppe.
“This one is building up for a big breakout. Constantly testing the resistance, while creating higher lows. Another break = bullish continuation.”
At the time of writing, WOO trades at 0.00002332 BTC up 6.36% on the 24-hour chart.
Zilliqa (ZIL)
Lastly, the crypto analyst covers Zilliqa (ZIL), which has cleared its immediate resistance against Bitcoin (ZIL/BTC) and now seems ready to form a bullish higher low structure at 0.0000014 BTC.
Zilliqa is a public, permissionless blockchain designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution.
“This one has made a breakout upwards, just like altcoins in December were a great buy (remember ATOM and LINK?).
On an area of support right now, might be a good spot.”
