Crypto Price Analysis August 10: FTM, NEAR, DOT, VET, AR

Key Insights:

• The market noted recovery today after yesterday’s $28.9 billion downfall.
• The likes of Fantom and NEAR led the market rally with a 10% rise.
• Bitcoin and Ethereum rose to trade at $24k and $1.87k, respectively.

With losses exceeding $1.1 billion in the second quarter, Coinbase noted a decline in the trading volume and revenue over the three months from April to June.

However, the crypto market treaded in the other direction against expectations, reclaiming the $36 billion it lost in the 24 hours before today.

Fantom (FTM)

The altcoin is sticking to its 2-months long uptrend adding another 9.09% over the last 24 hours. This brought FTM closer to recovering the 46.29% losses it witnessed in June.

Relative Strength Index (RSI) staying in the bullish zone is a good sign for the altcoin as it will provide the support Fantom needs to keep above $0.4.

Near Protocol (NEAR)

NEAR noted a similar pattern rising by 10.63% in the previous 24 hours, except that this altcoin has already recovered its June losses and is currently on the way to invalidating May’s crash of 54.4%.

The divergence of the Bollinger Bands indicates an increase in volatility which might lead to a price swing in the upward direction.

Polkadot (DOT)

Polkadot is inching closer to the $10 mark, and in doing so, it is also reclaiming the losses of June and heading towards recovering the dip of May.

The presence of green bars on the Awesome Oscillator indicates that the persisting bullishness will act as solid support for the altcoin.

VeChain (VET)

The 6.6% rise in the last 24 hours is possibly going to act as an effective trigger for VeChain to note a rally strong enough to invalidate the losses of May’s 48.61% dip.

MACD maintaining its bullish crossover is highlighting the same thing as well.

Arweave (AR)

Of the cryptocurrencies of this lot. Arweave stood out for the downtrend it was displaying on the charts today as the white dots of the Parabolic SAR moved above the candlesticks.

The 6.38% rally did not change that either, which might make it difficult for the altcoin to recover the 47.75% losses of May.