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 much like the topping sample FTM noticed in late 2021. Notably, this sample implies that there may very well be yet one more leg increased.”
Based on Turner, Fantom may go up by roughly 98%, nearing double its present value.
“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 should seemingly stall out because of resistance, also called 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 buyers and the workforce suggests there can be minimal promote strain from their aspect, notably if you issue within the Fantom Basis’s apparently monumental runway…
The one factor that FTM is lacking is a story that retail buyers can perceive. And extra retail accessibility. Particularly, FTM shouldn’t be presently listed on Coinbase although it’s potential this might change if laws within the US change.”
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