Top 4 Altcoins Showing Strong Corrections In Q1, 2022

The market is red, and there are many corrections throughout the environment. Erik Known Crypto, a famous Youtube Channel, has pointed out top 4 different altcoins which are showing relative strength in this market, especially while the majority of the market is correcting and correcting heavily in a very nasty manner.

Fantom (FTM)

The first crypto to mention is Fantom (FTM). Fantom is a directed acyclic graph (DAG) smart contract platform providing DeFi services to developers using its bespoke consensus algorithm.

FTM Chart | Source: Youtube

FTM Chart | Source: Youtube

FTM is now trading at $2.27 at press time. There is another pullback around about $2.4. This implies more long-term continuation conditions to prioritize and new optimize are still the same any closure above the current high structure at about $3.2. The next target is $5. Fantom to be one of the big beneficiaries.

Harmony (ONE)

The second altcoin on the list is Harmony (ONE). Harmony is a blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds.

It’s testing around the ATHs, putting another higher low right around the $0.055. Traders can anticipate the next higher low until it gets above $0.23 for a long-term bullish.

ONE Chart | Source: Youtube

ONE Chart | Source: Youtube

After that first kickback, daily RSI gets fully back in the bullish control zone. It is close to an upside resolution with any daily closure above $0.033. We can see another re-test of prior wick ATH at $0.4 and then move up towards to the extension. This will be a really strong price action. ONE is changing hand at $0.29 for now.

Cosmos (ATOM)

Cosmos (ATOM) is the next altcoin to have a big corrective in price action. Cosmos bills itself to solve some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.’

ATOM Chart | Source: Youtube

ATOM Chart | Source: Youtube

The next short-term daily target would be $50. There is a huge validation and that would be below $32. Traders are looking for this target to trade sideways with higher lows implied along the way and double-check five-day stokes. ATOM’s price is $35.45 at writing time.

Near Protocol (NEAR)

The last altcoin on the list is Near Protocol (NEAR). Near Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput, and poor interoperability.

NEAR Chart | Source: TradingView

NEAR Chart | Source: Youtube

NEAR is continuously putting in some pretty strong rallies. This ascending triangle implies that it rises to $13.5 broken daily. It would be validation and the next targets when an ascending triangle formation is going on $16.6. From $27 to $30 is the next significant consolidation. NEAR is now trading at $13.36.

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