Cryptocurrency analyst and dealer Ali Martinez is expressing bullish sentiment on an Ethereum (ETH) competitor based mostly on worth motion.
Martinez tells his 36,800 followers on the X social media platform that Fantom (FTM) managing to beat and keep above a key resistance stage “marks a big bullish flip” for the good contract-enabled blockchain platform’s native token.
In keeping with Martinez, FTM has the potential to surge by about 35% from the present stage to round $0.65.
“So long as FTM stays above this significant stage [of $0.47], brace for a powerful rally!”
Per a chart citing knowledge from blockchain analytics platform IntoTheBlock, 99.21% of traders and merchants who purchased FTM at between $0.399 and $0.542 are in revenue whereas solely 0.76% are underwater.
Fantom is buying and selling at $0.482 at time of writing, up by over 60% over the previous 30 days.
Subsequent up is the Ethereum scaling resolution Polygon (MATIC). Martinez says that Polygon has an unlimited resistance zone to beat.
“Polygon is presently up towards a tricky provide wall, starting from $0.79 to $0.84. On this zone, round 39,000 addresses are holding over 4.24 billion MATIC.
For MATIC to embark on a journey to new heights, it’s essential to interrupt by means of this stage with conviction.”
MATIC is buying and selling at $0.855 at time of writing, up by 7% over the previous 24 hours.
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