The crypto market is constantly in flux, and recent price analysis shows that bears still have the upper hand in Polygon (MATIC) and Fantom (FTM). However, some analysts have predicted that Sparklo’s (SPRK) value could potentially skyrocket up to 5,000x its current value before the end of 2023.
Polygon (MATIC) Price: Will It Rebound from 17% Weekly Loss?
Polygon’s (MATIC) price has dropped since February and hit the long-term pattern’s support line from June 2022. According to the weekly chart analysis, the market is showing a bearish outlook for Polygon (MATIC). This is because Polygon (MATIC) is trading within an ascending parallel channel.
When the RSI reading is above 50 and the trend is upward, it favours the bulls. Conversely, if the reading is below 50, the opposite is true. In the case of Polygon (MATIC), the RSI broke its trendline and fell below 50.
If the price of Polygon (MATIC) breaks out of the channel, the nearest support level will be $0.43. Conversely, if the price bounces off the support line within the channel, there is a high probability of an increase toward the midline at $1.40.
Fantom’s (FTM) Price Continue To Drop
Fantom (FTM) has been struggling in the market despite the launch of its AI project, Fantoon Ai. CoinGecko data shows that the token has experienced a drop of almost 21% since last week. The price decline of Fantom (FTM) can be attributed to the broader market downturn that affected the entire crypto market.
In the short to medium term, the price of Fantom (FTM) is likely to fluctuate around the $0.4260 support level, depending on the overall market sentiment. This reliance on the broader crypto market could result in further volatility for Fantom (FTM). If the token fails to establish stability at this support level, there is a possibility that the price of Fantom (FTM) could drop toward $0.3717.
Sparklo (SPRK) is a Web3 project currently in development, which aims to make purchasing and storing precious metals like gold, silver, and platinum accessible to all investors. Using blockchain technology, Sparklo addresses the challenges of affordability and accessibility associated with investing in precious metals.
Investors will be able to purchase fractional amounts of platinum, silver, and gold. Also, the platform will mint NFTs to represent fractional investments, while investors wanting to own a complete NFT of precious metals like gold can get the physical asset delivered by Sparklo.
Meanwhile, the project is in its presale stage with tokens available at $0.015. According to analysts, Sparklo has the potential to generate a 5,000x return before the end of 2023.
Find out more about the presale:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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