Altcoin Fantom FTM Is Showing Signs Of Bullish Signals

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A top crypto analytics firm is listing seven altcoins that it considers to be currently severely oversold.

In a tweet, Santiment says that Fantom (FTM), Curve DAO Token (CRV), 1inch (1INCH), Enjin (ENJ), Chiliz (CHZ), Loopring (LRC) and Skale (SKL) are in a “historically good buy zone.”

The analytics firm also says there’s a likelihood that altcoin prices could fall further.

“As crypto prices continue their volatile patterns, altcoins have shown decidedly different paths and results based on average trader returns. Using multiple timeframes on results, we’re seeing the vast majority of altcoins as oversold, though some further downside is very possible.”

Source: Santiment/Twitter

Scalable smart contract-enabled blockchain Fantom (FTM), exchange and payment protocol Loopring (LPC), fan-engagement tokens platform Chiliz (CHZ) and Enjin Coin (ENJ), a platform used to back the value of non-fungible tokens (NFTs), are all down by between 60% and 80% from their record highs.

Decentralized exchange aggregator 1inch (1INCH), layer-2 scaling solution Skale (SKL) and Curve DAO Token (CRV), a decentralized finance (DeFi) platform designed for stablecoin trading have fallen by between 84% and 96% from their all-time highs.

The analytics firm also says that following a crypto market bounce that pushed Bitcoin above $39,000, the “notable gainers” are privacy coins Monero (XMR) and Zcash (ZEC) as well as file-storage protocol Aweave (AR) and micropayments network Toncoin (TON).

“Crypto prices are moving the right direction again over the past 24 hours. Bitcoin has risen modestly to above $39.2k once again, and Ethereum is back above $2,600. Notable gainers are ZEC (+16%), TON (+13%), AR (+10%) and XMR (+9%).”

Bitcoin (BTC) is trading at $40,087 at time of writing, up 3.5% on the day.

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