Coin News

These Altcoins Recorded Biggest Recoveries Withstanding The FTX-Collapse Contagion!

3 d ago4 min readAltcoins
These Altcoins Recorded Biggest Recoveries Withstanding The FTX-Collapse Contagion!

Concerns regarding the FTX’s crash have initiated an overall bearish trend for the entire crypto market for a week. Leading assets like Bitcoin and Ethereum have broken their fundamental support level and continue to retrace downward.

However, the crypto market is preparing for a fresh upward start with altcoins as major altcoins seem unaffected by the FTX contagion as they register a significant recovery in the price chart since the market downtrend.

Will These Altcoins Become A Messiah Amid This Crypto Winter?

Multiple altcoins witnessed a massive surge in the price chart after the FTX’s collapse and initiated explosive bullish rallies.

Altcoins’ price usually fluctuates following the market trend and leading assets’ dominance, but this time major altcoins show optimistic returns amid the market downtrend while there is less dominance and excessive price turmoil in leading assets.

Trust Wallet Token (TWT) Price Analysis

Trust Wallet Token has brought enough pump in its price amid the crypto winter as it builds more trust between decentralized exchanges and crypto funds.

Recently, Binance CEO, Changpeng Zhao, expressed his viewpoints regarding the importance of a self-custodian wallet and highlighted the benefits of using Trust wallet, triggering its token to soar over 50%.

TWT is trading at $2.13 after breaking its immediate resistance level at $1.2 on 12 November. The integration of Binance Pay with the Trust Wallet platform acts as a significant catalyst to hold TWT’s price near its resistance zone of $2.2.

The RSI-14 trades at 72, which may put a stop to its current bull run as TWT has consolidated in a bullish territory after facing rejection at $2.4.

TWT may initiate a bull run up to $3 if it exceeds its strong resistance at $2.4. However, a slowly progressive downfall is expected if TWT fails to hold its price above its fundamental support level of $1.9.

Chiliz (CHZ) Price Analysis

Chiliz’s price also made an uptrend of over 51% in the last seven days as it reclaimed the price level of $0.23 after significantly dropping from $0.28 to a low of $0.14 due to the FTX’s demise.

The RSI trades at the 51-level, supporting further bullish momentum for CHZ. Chiliz may project itself to test its 23.6% Fib retracement at $0.25. If CHZ keeps its momentum above $0.25, it may pave a clear upward road to the next resistance level of $0.28.

Aptos (APT) Price Analysis

Aptos sharply dropped following the collapse of FTX as the APT community questioned its exposure to FTX. However, the team quickly eliminated all doubts as it assured zero exposure with FTX.

Since the bottom formed in the Aptos price chart due to FTX’s collapse, the token initiated a fresh bull run and sustained itself in a safe region from the FTX impact.

APT trades at $4.7, and it may trade at a higher level near $5 as the MACD line trades above the signal line, representing the current domination of bulls.

However, the RSI-14 trades at 38-level, which may bring a pullback for the Aptos token to test its support level at $4.2 before making a smooth bullish recovery.

Lido DAO (LDO) Price Analysis:

Along with other altcoins, Lido DAO felt the heat of the FTX implosion. LDO went from a smooth bullish rally to an extremely bearish territory following its fellow tokens.

Lido token has recovered over 35% since the crash and is currently trading at $1.21 with an uptrend of 1.74%.

If investors intensify their focus on the LDO token, it can spark more surges in the price chart as the SMA-14 trades in an accumulation zone of level 43.

The Fair Value Gap (FVG) of the LDO token is between $1.29 and $1.38, and above this range, LDO may reach its crucial resistance level of the EMA-100 trend line at $1.5.

However, LDO may test its support at $1.1 as the MACD line trades in a bearish zone. LDO can invalidate its above bullish analysis if it falls below its Bollinger band’s lower limit of $0.9, which can push it to head toward $0.6.

Litecoin (LTC) Price Analysis

Litecoin had a spectacular journey from the beginning of this month, and it has successfully recovered 20% of its value after the FTX’s crash. Litecoin is trading at $60, with an increase of 5.5% from yesterday.

Unlike the altcoins mentioned above, Litecoin has already tested its initial support level of $56.

The current bullish momentum of LTC is solely dependent on investors’ movement on this altcoin as its price may soon trade above its 23.6% Fib retracement at $63 if the RSI-14 consolidates near the level of 53.

However, on the downside, LTC has a key support level at $52, below which LTC can trade at $47.


Subscribe to get our top stories

Coin News
App StoreApp Store