This Ethereum Rival Could Skyrocket by Nearly 2x Over the Short to Medium-Term, Says Coin Bureau’s Guy Turner
The host of the Coin Bureau YouTube channel, Guy Turner, is expressing bullish sentiment on one Ethereum (ETH) competitor.
Turner tells the 2.47 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 appears to be painting a wonky head and shoulders pattern that looks eerily similar to the topping pattern FTM saw in late 2021. Notably, this pattern implies that there could be one more leg higher.”
In accordance to Turner, Fantom may go up by roughly 98%, nearing double its present value.
“Zooming out on the weekly chart suggests that FTM could rally as high as $1.60 in the short to medium term where it will likely stall out due to resistance, also known as bag holders, from the previous bull market. After that, it’s anyone’s guess.”
Fantom is buying and selling at $0.810 at time of writing.
On the causes supporting his bullish thesis for Fantom, the Coin Bureau host says,
“FTM has some stable ‘pump-a-mentals,’ so to converse. It has a low price ticket and a market cap that isn’t so giant as to prohibit an epic pump.
The truth that FTM’s provide has already vested to traders and the crew suggests there will likely be minimal promote stress from their facet, significantly whenever you consider 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 will not be presently listed on Coinbase although it’s potential this might change if rules in the US change.”
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