The host of the Coin Bureau YouTube channel, Man Turner, is expressing bullish sentiment on one Ethereum (ETH) competitor.
Turner tells the two.47 million subscribers of the Coin Bureau channel that the layer-1 blockchain Fantom (FTM) possesses extra upside potential based mostly on technical evaluation.
“The weekly chart seems to be portray a wonky head and shoulders sample that appears eerily just like the topping sample FTM noticed in late 2021. Notably, this sample implies that there could possibly be another leg increased.”
Based on Turner, Fantom might go up by roughly 98%, nearing double its present value.
“Zooming out on the weekly chart means that FTM might rally as excessive as $1.60 within the brief to medium time period the place it would seemingly stall out resulting from resistance, also referred to as bag holders, from the earlier bull market. After that, it’s anybody’s guess.”
Fantom is buying and selling at $0.810 at time of writing.
On the explanations supporting his bullish thesis for Fantom, the Coin Bureau host says,
“FTM has some stable ‘pump-a-mentals,’ so to talk. It has a low price ticket and a market cap that isn’t so giant as to ban an epic pump.
The truth that FTM’s provide has already vested to traders and the staff suggests there might be minimal promote stress from their aspect, notably while you issue within the Fantom Basis’s apparently huge runway…
The one factor that FTM is lacking is a story that retail traders can perceive. And extra retail accessibility. Particularly, FTM shouldn’t be at the moment listed on Coinbase although it’s attainable this might change if rules within the US change.”
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Worth Motion
Comply with us on X, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in internet affiliate marketing.
Generated Picture: DALLE3
