‘Brace for a Strong Rally’ – Trader Says Ethereum Rival Has Entered Bullish Zone, Could Surge by Double Digits
Cryptocurrency analyst and dealer Ali Martinez is expressing bullish sentiment on an Ethereum (ETH) competitor based mostly on worth motion.
Martinez tells his 36,800 followers on the X social media platform that Fantom (FTM) managing to beat and keep above a key resistance stage “marks a significant bullish turn” for the good contract-enabled blockchain platform’s native token.
In line with Martinez, FTM has the potential to surge by about 35% from the present stage to round $0.65.
“As long as FTM stays above this crucial level [of $0.47], brace for a strong rally!”
Per a chart citing knowledge from blockchain analytics platform IntoTheBlock, 99.21% of traders and merchants who purchased FTM at between $0.399 and $0.542 are in revenue whereas solely 0.76% are underwater.
Fantom is buying and selling at $0.482 at time of writing, up by over 60% over the previous 30 days.
Subsequent up is the Ethereum scaling answer Polygon (MATIC). Martinez says that Polygon has an unlimited resistance zone to beat.
“Polygon is at present up towards a robust provide wall, starting from $0.79 to $0.84. On this zone, round 39,000 addresses are holding over 4.24 billion MATIC.
For MATIC to embark on a journey to new heights, it’s essential to interrupt by means of this stage with conviction.”
MATIC is buying and selling at $0.855 at time of writing, up by 7% over the previous 24 hours.
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