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

Crypto analyst Altcoin Sherpa provided an advanced account of Phantom (FTM), which suggests that the crypto token could soon make a significant rally. The commentator also revealed how Fantom would wake up if this happened.

Fantom Could Go Up To $1.2

Based on the chart Altcoin Sherpa shared, Phantom it could go up to $1.2 in its next leg. Meanwhile, the analyst noted that the crypto token to combine at the key level. He added that he expects Fantom to make a chop range between $0.50 and $0.70 a bit, so that range can act as support as it moves higher.

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Altcoin Sherpa sounded optimistic about Fantom’s plan, saying 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 block-1 blockchain with a layer-2 network that connects to Ethereum.

Crypto analyst Bitcoin Ape also shared the same sentiment as Altcoin Sherpa, prediction that Fantom could rise to $1.2. The analyst said that the FT’M rally could happen once there is a stabilization of the market, Bitcoin is leading the way. Specifically, Bitcoin Ape highlighted a falling wedge pattern formed on the Fantom chart, indicating that a price rally was imminent.

Like Altcoin Sherpa, Bitcoin Ape is also referred to The Phantom pivots on Sonic as the fundamental bullish of the crypto token. The reviewer noted that Fantom has been “recently improved” with several updates, including the introduction of Sonic Labs. He also talked about more than $100 million in $S (Sonic’s native token), which would attract developers and users to the Fantom ecosystem.

Meanwhile, Bitcoin Ape predicts that Fantom may have more volatility in the coming days because it is currently oversold. However, if the crypto token leaves its oversold condition, the crypto analyst expects such an explosion to occur.

FTM Could Drop as Low as $0.45 Before the Next Leg Moves

Crypto analyst Ijaz Awan recently predicted that Fantom could drop to 0.45 before its next rise. He noted that Weakness Bitcoin it’s dragging down altcoins like FTM, which is why Fantom is struggling to gain momentum. Therefore, he predicts that the crypto token can get a consolidation period in the middle $0.45 and $0.55 before the next leg up.

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However, the analyst warned that Fantom cannot afford to lose that kind of support. He suggested that a drop below that price level would be weaken his frame and it can lead to a further decline in the price of the crypto token.

At the time of writing, Fantom is trading at around $0.54, down more than 3% in the last 24 hours, according to the report. data from CoinMarketCap.

The featured image was created with Dall.E, a chart from Tradingview.com