These Two Cryptocurrencies Gaining Upward Momentum Defy The Downtrend In The Market!

Phantom And Chainlink: The leading cryptocurrency Bitcoin started to record downward price movements from $47,500 price levels at noon yesterday, despite attempts to attack upwards and declined to $46,300 price levels. Ethereum, which could not overcome the $ 3,900 resistance, started to trade at the price levels of $ 3,760 with the bearish movements it recorded. However, despite the downward trend in the market, Chainlink (LINK) and Fantom (FTM) continued to increase in value and gained an upward momentum.


Chainlink (LINK)

Continuing to record value increases in the weekly time frame despite the downward trend in the market, LINK surpassed the $22 resistance, which is very important in the short term. According to CoinMarketCap data, LINK has seen a nearly 9% increase in value over the last 24-hour period, from $21.60 to $23.44.

LINK, which started trading at the price levels of $23.44 with its upward movement, also approached the $24.3 resistance of the horizontal channel it created on its monthly chart. Analysts stated that if LINK exceeds this resistance level, it can test the $ 30 levels for higher value increases.

Phantom (FTM)

Phantom, which lost value by more than the all-time high price level, recorded a significant return in the weekly time frame. Despite the downward trend in the market, FTM also drew a strong upward trend on its monthly chart. According to CoinMarketCap data, FTM recorded a nearly 20% increase in value, rising from the $2.44 price level to the $2.90 price level.

Additionally, according to DefiLlama data, Fantom’s TVL (Total Value Locked: Total Value Locked) has also increased by 25% in the last week.

The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.

Roy Fisher

I continue my education at Long Island University. I am a part time news editor. I really like to write news and spend time on it. I have been working at for 3 months.