A widely followed crypto trader says the collapse of FTX has sparked astonishing amounts of Fear, Uncertainty and Doubt (FUD).
“It’s completely understandable that people are scared and we’re getting the contagion from the FTX fallout, but the amount of FUD and negativity in the past week about literally everything in the ecosystem is just astounding.”
Entering the charts, the analyst suggests LINK’s current price level could potentially see an upside.
“This one still consolidates at the low end of the range and is a good entry if you want to look for investments.”
Next, Van de Poppe looks at SafePal (SFP), an altcoin that has soared 124% in the past seven days.
“At some levels I would watch this one for daytrading purposes.”
SafePal is a decentralized cryptocurrency wallet backed by the Binance crypto exchange. It allows users to manage their crypto wallets using their mobile phones. The SFP token was created on the Binance Smart Chain blockchain and can be used to vote on the network governance protocol and staked to earn rewards.
Finally, the crypto analyst graphics XRP, the seventh largest crypto by market cap.
“I can’t say much about this one as the markets are still consolidating at support levels and full of mega fear.
Would be an entry, when it comes to investments, but it takes patience.
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