- The 5 altcoins all set to climb up are EGLD, VET, FTT, ATOM, FTM.
- EGLD price has maintained to trigger an upward move.
- For ATOM it needs to pass $22 to $25 to move above $33.
The five altcoins Elrond (EGLD), VeChain (VET), FTX Token (FTT), Cosmos (ATOM), and Fantom (FTM) are all set to climb up by breaking their current resistance levels.
Elrond (EGLD)
A blockchain protocol that seeks to offer extremely fast and quick transactions by using sharding is Elrond. Its native token is known as EGLD, which can be utilized for paying network fees, staking, and rewarding validators. It is a self-possessed blockchain platform for the new internet economy, decentralized applications (dApps), and enterprise use. Elrond uses a proof-of-stake mechanism’s algorithm in which nodes must stake their EGLD tokens to participate in the validation process.
Furthermore, EGLD price has maintained to trigger an upward move with just intersections of its price with 20 days MA. According to CoinMarketCap, EGLD’s price was trading at $277.51 at the time of writing with a 24-hour trading volume of $180,204,116. In the last 24-hour it has gained over 17%, moving in a bullish trend. If this continues for sure, it will break its resistance level and reach more heights.
VeChain (VET)
VeChain (VET) is a versatile enterprise-grade L1 smart contract platform. VeCahin aims to use distributed governance and Internet of Things (IoT) technologies to create an ecosystem that solves major data hurdles for multiple global industries from medical to energy, food & beverage to sustainability and SDG goals. VeChain (VET) is a Proof of Authority (PoA) token, requiring relatively low computing power to achieve network security versus a protocol such as Bitcoin
Henceforth, VeChain’s (VET) price has been trying hard to escape from the bearish signal. Currently, VET’s price was trading at $0.07948 with a 24-hour trading volume of $295,238,048. In the last 24-hour it has surged over 2%. If it continues this bullish sign without any breakout to support level, we can expect VET to reach the top.
FTX Token (FTT)
FTX is the crypto derivatives trading platform, FTT is its native cryptocurrency token. FTT is an ERC-20 compatible exchange token. The FTX Token FTT is the backbone of the FTX ecosystem, which was developed to increase network effects and demand for FTT as well as decrease its circulating supply.
Hence more, FTT needs to pass the immediate upper resistance of $39.41 and $41.12 to conform to a swift move up to $50. AT present, the FTT price was trading at $39.08 with a 24-hour trading volume of $102,922,713. In the last 24-hour FTT price spikes over 2%. If this upward trend continues then FTT will break the expected resistance level and move more heights.
Cosmos (ATOM)
Cosmos aims to provide an antidote to slow expensive, unscalable, and environmentally harmful proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. A major concern for some in the crypto industry centers on the levels of fragmentation seen in blockchain networks. The other goal of the projects is to make blockchain technology less complex and difficult for developers.
Moreso, for ATOM it needs to pass the resistance level of $22 to $25 to move above $33. At press time, ATOM’s price was trading at $22.27 with a 24-hour trading volume of $325,056,036. In a day it has gained over 2%. The circulating supply of ATOm is 226,226,027.65 ATOM.
Fantom (FTM)
Fantom (FTM) is a proof-of-stake (PoS) token that exists in several incarnations. Fantom uses a bespoke variety of proof-of-stake algorithm to provide services and secure its network. FTM is freely tradeable and can be found on major exchanges like Binance, gate.io, and OKEx Korea. It can be traded in top crypto exchanges such as Binance, OKEx, Mandala Exchange, FTX, and Bybit.
Moreover, if FTM moves above $1.38 and $1.47, the next stop for the altcoin lies at $2. As per CoinMarketCap, FTM price was trading at $1.36 with 24-hour trading volume of $270,375,228. The circulating supply of FTM is 2.55B FTM
