Fantom Soars, Polygon Ponders: Analyst’s Projections
Ali Martinez, a notable figure in the cryptocurrency world, has shared positive views about a competitor to Ethereum, focusing on its recent market performance.
Martinez highlighted the significance of Fantom (FTM) successfully surpassing a key resistance level, signaling a notable positive shift for the blockchain platform’s native token. He suggested a potential surge of approximately 35% for FTM, projecting a target price of around $0.65.
#Fantom trading above $0.47 marks a significant bullish turn, as there's no major resistance in sight until $0.65. As long as $FTM stays above this crucial level, brace for a strong rally! pic.twitter.com/TUIy34rMEF
— Ali (@ali_charts) December 21, 2023
Emphasizing the importance of FTM maintaining a price point above $0.47, Martinez hinted at a strong rally should this level hold firm.
Based on data from the blockchain analytics platform IntoTheBlock, it’s been reported that an overwhelming 99.21% of investors who acquired FTM within the $0.399 to $0.542 range are currently in profit, while a mere 0.76% find themselves in a loss position.
At the time of this report, Fantom was observed trading at $0.482, showcasing an impressive surge of over 60% within the last 30 days.
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Shifting focus, Martinez turned attention to Polygon (MATIC), an Ethereum scaling solution. He pointed out a substantial resistance zone for MATIC to overcome, ranging between $0.79 and $0.84, backed by over 39,000 addresses holding a significant amount of MATIC tokens, totaling 4.24 billion.
#Polygon is currently up against a tough supply wall, ranging from $0.79 to $0.84. In this zone, around 39,000 addresses are holding over 4.24 billion $MATIC.
For #MATIC to embark on a journey to new heights, it's crucial to break through this level with conviction. pic.twitter.com/iWTGNrZYFz
— Ali (@ali_charts) December 21, 2023
Martinez stressed the importance of MATIC decisively breaking through this barrier for a potential upward trajectory to new heights.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
