Technical Analysis Suggests Upside Potential
Guy Turner, host of the popular YouTube channel Coin Bureau, believes that Fantom (FTM) has significant upside potential. He points to a technical pattern on the weekly chart that resembles a “head and shoulders” pattern, which typically indicates a bullish trend.
Turner predicts that FTM could rally as high as $1.60 in the short to medium term, nearly doubling its current price of $0.810. However, he cautions that resistance from previous investors may limit its gains.
Fundamental Factors Support Bullish Thesis
Turner also cites several fundamental factors that support his bullish thesis for Fantom:
- Low price tag and market cap
- Minimal sell pressure from investors and the team
- Lack of a clear narrative for retail investors
- Potential for listing on Coinbase
Turner believes that if regulations in the US change, FTM could become more accessible to retail investors, further boosting its potential.
