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 yet one more leg larger.”
Based on Turner, Fantom might go up by roughly 98%, nearing double its present worth.
“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 probably stall out as a consequence of resistance, often known 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 strong ‘pump-a-mentals,’ so to talk. It has a low price ticket and a market cap that isn’t so massive as to ban an epic pump.
The truth that FTM’s provide has already vested to traders and the staff suggests there shall be minimal promote strain from their aspect, significantly 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 potential this might change if rules within the US change.”
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Test Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl will not be funding recommendation. Buyers 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 individual danger, and any losses chances are you’ll incur are your duty. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in internet online affiliate marketing.
Generated Picture: DALLE3
