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 primarily based 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.”
In accordance with Turner, Fantom may go up by roughly 98%, nearing double its present worth.
“Zooming out on the weekly chart means that FTM may rally as excessive as $1.60 within the brief to medium time period the place it would doubtless 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 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 buyers and the crew suggests there might be minimal promote stress from their facet, significantly while you issue within the Fantom Basis’s apparently huge runway…
The one factor that FTM is lacking is a story that retail buyers can perceive. And extra retail accessibility. Particularly, FTM is just not presently listed on Coinbase although it’s doable this might change if rules within the US change.”
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