Crypto Analyst Predicts Fantom (FTM) to Outperform in 2024

Pseudonymous analyst Altcoin Sherpa predicts strong performance for Fantom (FTM) this year, citing its treasury and expecting a rally to $1.15 after a potential dip to $0.80. Sherpa also provides updates on Ethena (ENA), Core (CORE), and Mantra (OM), suggesting consolidation and potential upside for ENA, retracement before a move higher for CORE, and continued bullishness on OM as an RWA play.

Crypto Analyst Predicts Strong Performance for Fantom (FTM) in 2024

January 18, 2023 - Leading cryptocurrency strategist Altcoin Sherpa has issued optimistic forecasts for Fantom (FTM), a prominent Ethereum (ETH) competitor. With a significant following of 214,300 on social media platform X, Altcoin Sherpa anticipates a potential surge of over 15% for FTM in the coming year.

"FTM: I believe this remains a robust investment with promising prospects in 2024, considering its treasury," Altcoin Sherpa stated. "However, it's prudent to observe consolidation for establishing a long-term bottom. I anticipate this level to be around $0.83 or $0.70. I maintain a bullish stance and hold a position in FTM."

According to the analyst's chart analysis, Fantom could experience a temporary dip to the Fibonacci retracement level of roughly $0.80 before rebounding to $1.15. At the time of publication, Fantom was trading at $1.02, reflecting a gain of almost 9% over the past 24 hours.

Ethena (ENA), Core (CORE), and Mantra (OM) Also on Analyst's Radar

Altcoin Sherpa further predicted a breakout for Ethena (ENA), a governance token utilized by Ethena Labs for its DeFi protocol. Following a period of consolidation near the $1.24 level, the analyst anticipates an upward movement for ENA. "ENA initial reaction: I anticipate consolidation followed by a surge."

ENA's current trading price stands at $1.22, indicating a rise of 4.6% within the past 24 hours.

Regarding Core (CORE), a layer-1 blockchain leveraging Bitcoin's (BTC) proof-of-work network, the analyst expects a retracement before an upward trajectory. "CORE: This asset is consolidating after a significant rally. I believe the current .50 area ranging from $2.50 to $2 appears as a reasonable entry point. I anticipate BTC ecosystem projects to perform well over the next 12 to 18 months."

CORE's current trading price is $2.37, representing a decline of more than 11% over the past 24 hours.

Finally, Altcoin Sherpa expressed continued optimism for Mantra (OM), a cryptocurrency project focusing on real-world asset (RWA) tokenization. "OM: I have always believed that $0.50 would be an excellent purchasing opportunity, but it has yet to occur. It's currently in a precarious position, but I remain bullish on this RWA play and hold a position."

OM's current trading price is $0.81, reflecting a gain of over 4% in the past 24 hours.

Disclaimer: Investment Advice Not Provided

It's essential to note that Altcoin Sherpa's predictions and analysis are not to be construed as financial advice. Cryptocurrency investments are highly volatile and involve significant risk. Investors should conduct thorough research and consult with qualified professionals before making any investment decisions.