Altcoins

Trader Says One Ethereum Rival Will Do Well in 2024, Updates Outlook on Three Additional Altcoins

A broadly adopted crypto strategist believes that one Ethereum (ETH) rival might have a powerful efficiency this yr.

Pseudonymous analyst Altcoin Sherpa tells his 214,300 followers on the social media platform X that Fantom (FTM) might soar greater than 15% from its present worth.

“FTM: I think this is still a very solid coin and should do well in 2024 given their treasury. That said, would like to see consolidation for a longer-term bottom forming. Expecting that level to be $0.83 or $0.70. Still bullish and I have a bag.”

Supply: Altcoin Sherpa/X

his chart, the dealer suggests Fantom might dip to the Fibonacci retracement stage round $0.80 earlier than rallying to $1.15.

Fantom is buying and selling for $1.02 at time of writing, up almost 9% in the final 24 hours.

Subsequent up, the dealer predicts Ethena (ENA), a governance token launched by Ethena Labs for the venture’s DeFi protocol, will get away after a interval of consolidation across the $1.24 stage.

“ENA first reaction. I think that we’re going to consolidate and then leg up.”

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Supply: Altcoin Sherpa/X

Ethena is buying and selling for $1.22 at time of writing, up 4.6% in the final 24 hours.

Transferring on, the dealer expects a retracement earlier than a transfer to the upside for Core (CORE), a layer-1 blockchain that leverages some great benefits of Bitcoin’s (BTC) proof-of-work community.

“CORE: this one is chilling after having a crazy run. I think that this current .50 area around $2.50 all the way down to $2 seems reasonable to start buying. Expecting BTC ecosystem projects to do pretty well for the next 12-18 months.”

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Supply: Altcoin Sherpa/X

Core is buying and selling for $2.37 at time of writing, down greater than 11% in the final 24 hours.

Lastly, the dealer says he stays bullish on the crypto venture targeted on real-world asset (RWA) tokenization, Mantra (OM).

“OM: I always thought that $0.50 would be a great buy but it hasn’t come (yet). A bit of a scary area here but I’m still bullish on this one as a RWA play (I have a bag).”

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Supply: Altcoin Sherpa/X

OM is buying and selling for $0.81 at time of writing, up greater than 4% in the final 24 hours.

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