In January, the bearish trend of the last two months of 2021 resumed again, pushing cryptocurrencies lower, although in the last two weeks, the decline has stopped. Yet, the market seems uncertain as to whether or not to resume the long-term bullish trend.

Gains have been very small since the beginning of last week, and Litecoin and Cardano are trading above some important support levels. Right now, the uncertainty is keeping them close to the support, but if the sentiment improves in the crypto market, these two cryptos are likely to turn bullish too.

Fantom Coin Analysis – Daily Chart

Fantom has turned into one of the most bullish cryptocurrencies in recent months and it continues this trend, after holding well during this bearish period in the market, while major cryptocurrencies such as Bitcoin and Ethereum have lost more than half their value. Fantom retested all-time highs below $3.50 in January, when the market was declining.

The bearish sentiment weighed on FTM/USD eventually, and it retreated lower, but the support and resistance zone below $2 seems to be holding, and with major investment firms turning to Fantom, such as Grayscale, which is investing in FTM coins, the bullish trend will resume soon again, once the uncertainty clears in the market. Fantom keeps attracting investors, as people look for yield farming with high returns, such as that offered by Fantom, which ranges from 20% to 50%.

New projects, such as veDAO and OxDAO, also keep increasing the TVL, which stands at around $7 billion. As a result, Fantom transactions reached 1.2 million in January, exceeding Ethereum transactions. This means that the demand is high for FTM and it will probably reach $10 this year, so we are thinking about buying these coins soon, since the support is holding.

ADA Coin Analysis – Daily Chart

Cardano trades above the $1 Support

Cardano has failed to get the momentum going since September, even though it launched the Alonzo upgrade, which brings dApps to the network, back then. The first dApp, which was the decentralized exchange, SundaeSwap, was launched recently, but it suffered from delays and congestions, as transactions surged due to the excitement.

The row between CSWAP and CardStarter, which are now collaborating to help SundaeSwap, also helped raise the sentiment for Cardano. ADA/USD turned bearish again last month, after failing to hold its gains above the $1.50 support and resistance level. But the last decent support at $1 is holding for this altcoin, although we’re not seeing much buying pressure. This also looks like a great place to buy, since ADA could reach $3 pretty quickly if the sentiment reverses.

Cardano Coin ADA Live Chart