Crypto Analyst Short-Term Bearish on $FTM and NEAR, Bullish on $AAVE and $ATOM

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Recently, the host of the highly popular YouTube series Coin Bureau, explained why he forsees bearish price action in the short term for Fantom ($FTM) and Near Protocol ($NEAR) and why he is optimistic about the short-term prospects of Aave ($AAVE) and Cosmos ($ATOM).

In a video released three days ago on YouTube channel Coin Bureau, the show’s pseudonymous host “Guy” shared his thoughts on the native tokens of four important crypto projects: Fantom, Near Protocol, Aave, and Cosmos.

According to a report by the Daily Hodl, Guy had this to say about these four cryptoassets:

  • $FTM: “FTM is looking strong on the charts, but the RSI suggests it starting to run out of steam. We’re also approaching a significant zone of resistance around the $2.60 mark so be on the lookout for that if you hold FTM too.
  • $NEAR: “Don’t get too caught up in the FOMO though. The chart suggests that NEAR is just about done pumping and we could see it drop as low as $12 to $13 in the days ahead as it enters another consolidation phase.
  • $AAVE: “Aave’s pump on the other hand seems to be getting started. It’s been caused by the news that a Swiss bank called SEBA will be integrating the institutional version of the save protocol o allow its protocols to do DeFi in a compliant manner… Even though Aave is a bit overextended on the daily, the weekly chart reveals that it has the momentum it needs to break through the zone of resistance at the $300 mark in the coming months. I suspect Aave will start to stutter around the $400 mark which is its next zone of price resistance.
  • $ATOM: “ATOM’s price action looks eerily similar to Aave’s in that its weekly price momentum is massive. If we see a repeat of what happened in May, it won’t be long before ATOM sees another all-time high.




Per data by CryptoCompare, currently (as of 19:54 UTC on December 30), $FTM, $NEAR, $AAVE, and $ATOM are traing around $2.175 (+ 0.65%), $14.98 (+2.96%), $263.04 (+8.48%), and $30.05 (+11.67%) respectively.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Image Credit

Featured Image by “nosheep” via Pixabay

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