Fantom (FTM) and Avalanche (AVAX) have been among the most bullish cryptocurrencies in recent months, as these two decentralized finance (DeFi) networks are experiencing a period of boom in projects and in total value locked (TVL). They remain bullish even during this bearish period in the crypto market, so let’s have a look where they are headed at.

Avalanche Daily Chart Analysis – AVAX Leaving Behind All MAs

Avalanche has seen increasing interest from third parties in the growing DeFi industry, which has propelled it to number 10 in crypto rankings regarding market capitalization. Some of the recent partnerships are the integration of 123swap’s with Avalanche, while the partnership with Deloitte to improve the technology for its new disaster recovery CAYG platform.

Avalanche has experienced a 358% DeFi TVL growth Since September 1

This has helped Avalanche surge higher, with AVAX/USD leaving behind all the moving averages. AVAX was already bullish, with the 20 SMA (gray) acting as support on the daily chart, which shows that the uptrend was quite strong. But, in a week or so, AVAX has totally soared higher, increasing from around $84 to $146. It has left behind the 20 SMA now, but the strongest bullish sign is the fact that it has been surging for the past week, when the market has been declining, so once the market turns bullish again Avalanche will likely surge even harder.

Fantom Daily Chart Analysis – The Second Support Zone Holds

While Avalanche has been totally surging, Fantom had its excellent times during September and October. This month FTM/USD has been retreating lower, but the overall trend remains quite bullish and it seems like the pullback lower has ended, since this crypto made a higher low yesterday and today it is reversing higher already.

Fantom bouncing off the support zone below $2

We can see from the image above that the DeFi TVL has absolutely surged in the Fantom blockchain, which has been keeping the price bullish, with previous highs turning into support. The 123swap is also integrating with the Fantom blockchain, as high Ethereum gas fees and processing time drive projects in other networks such as Fantom, Solana, Avalanche etc.

So, the 100 daily SMA (green) held the decline last week and the price bounced off that moving average, while this week the decline ended at the support zone around $2. This suggests that buyers are getting itchy to buy and today we are seeing buying pressure, so this might be a good time to buy Fantom if you are out of this crypto.