Crypto Analyst Says Ethereum Competitor Fantom (FTM) Could Jump To $1.2

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Crypto Analyst Says Ethereum Competitor Fantom (FTM) Could Jump To $1.2 - NewsBTC

Quick Summary:

He added that he expects Fantom to form a chop range between $0.50 and $0.70 for a bit, so that range could serve as support as it moves to the upside. Related Reading: Analyst Warns Of Bitcoin Breakdown Below Key Psychological Level, Says $40,000 Is Possible Altcoin Sherpa sounded optimistic about Fantom’s trajectory, stating that he believes FTM will still be a "decent project” going forward, especially with the move to Sonic.

In May, the Fantom Foundation announced plans to build Sonic, a layer-1 blockchain with a layer-2 network that connects to Ethereum. Crypto analyst Bitcoin Ape also shared a sentiment similar to Altcoin Sherpa, predicting that Fantom could rise to $1.2.

Specifically, Bitcoin Ape highlighted a falling wedge pattern formed on Fantom’s chart, which showed that a price rally was imminent. Like Altcoin Sherpa, Bitcoin Ape also alluded to Fantom’s pivot to Sonic as a bullish fundamental for the crypto token.