Altcoin strategist Sherpa predicts a strong breakout in Ethereum competitor Fantom (FTM).
Sherpa says Fantom (a highly scalable enterprise blockchain) is getting closer to clearing a major resistance area above $3 while recovering to all-time highs.
“This coin will break soon. I don’t know when or how but in my opinion this is a bullish flag. Fundamentals are strong right now… I think $3.50 is next.”
FTM/USDT | The source: Altcoin Sherpa
Crypto analytics firm Santiment has similar expectations, claiming that FTM is still showing bullish on-chain signals even as it approaches new all-time highs.
Santiment said it closely monitors FTM’s funding rate on the Binance exchange. This signals a highly scalable enterprise blockchain ready to take off.
“FTM is approaching an all-time high of $3.47, set in late October. One signal to watch closely is the funding price on exchanges like Binance. A negative ratio indicates a lot of short selling and the price is tending to move in to shoot up.”
Funding rate of FTM on Binance | The source: mood
Next is Solana (SOL), a blockchain that focuses on scalability while maintaining security and decentralization. According to altcoin Sherpa, SOL seems poised to start a rally after holding a key support level.
“SOL: This current area looks like support, which makes sense as it is a 200-day exponential moving average and the last true area of consolidation in September. Expect at least a lower high than 170 Dollar”.
SOL/USDT | The source: Altcoin Sherpa
Another coin on altcoin Sherpa’s list is Harmony (ONE), the centralized blockchain powering the decentralized economy. According to the analyst, ONE broke resistance and rallied to a new all-time high.
“ONE: The levels seem pretty clear to me personally. It just broke through a resistance level and hit an all-time high. I personally would wait until it falls a little more before buying it, but it looks very, very strong.”
ONE/USDT | The source: Altcoin Sherpa
Join CoinCu Telegram to keep track of news: https://t.me/coincunews