A widely respected cryptocurrency strategist believes one of Ethereum’s (ETH) competitors could deliver a strong performance this year.
Pseudonymous analyst Altcoin Sherpa says 214,300 followers on social media platform
“FTM: I think this is still a very solid coin and considering their funding, they will perform well in 2024. That said, I would like to see consolidation to form a long-term bottom. That level is expected to be $0.83 or $0.70. “I’m still optimistic and I have the bag.”
Looking at his chart, the trader suggests that Fantom could fall to the Fibonacci retracement level around $0.80 and then rebound to $1.15.
At the time of this writing, Fantom is trading at $1.02, up nearly 9% in the last 24 hours.
Next is the merchant predict Ethena (ENA), the governance token launched by Ethena Labs for the project’s DeFi protocol, is expected to launch after a period of consolidation at around $1.24.
“ENA’s first reaction. I think we will consolidate and then grow again.”
At the time of writing, Ethena is trading at $1.22, up 4.6% in the last 24 hours.
continue to be a merchant Expect This is a retracement before a move to the upside for Core (CORE), a layer 1 blockchain that takes advantage of Bitcoin’s (BTC) proof-of-work network.
“CORE: This is the chill after a crazy run. I think the current .50 area makes sense to start buying around $2.50 to $2. “We expect the BTC ecosystem project to proceed quite well over the next 12 to 18 months.”
Core is trading at $2.37 at the time of this writing and is down more than 11% in the last 24 hours.
Finally, the merchant Called He remains bullish on Mantra (OM), a cryptocurrency project focused on tokenizing real assets (RWA).
“OM: I always thought $0.50 would be a good buy, but it hasn’t happened (yet). There are some scary parts, but I’m still optimistic about this as an RWA play (there’s a bag).”
OM is trading at $0.81 at the time of this writing, up more than 4% in the last 24 hours.
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