One of the latest developments in the cryptocurrency market was cryptocurrency analyst Ali Martinez’s positive assessment of Fantom (FTM), known as the rival of the leading altcoin Ethereum. Martinez comments on Fantom’s price action. in analysisHe stated that the cryptocurrency has successfully overcome a certain resistance level and staying above this level could initiate a significant uptrend.
Regarding the current situation of Fantom (FTM), Martinez stated that the cryptocurrency has overcome a significant resistance level and managed to hold on above this level. Martinez, who thinks this is a positive signal for Fantom’s future price performance, suggested that the cryptocurrency has an increase potential of approximately 35% in the near future.
According to the analyst, it is emphasized that if Fantom (FTM) remains above this critical level ($0.47), the cryptocurrency may enter a strong uptrend. Martinez urges investors to be prepared for a strong rise given Fantom’s current situation.
“As long as FTM remains above this critical level ($0.47), prepare for a strong rise!”
The analyst used the In / Out of the Money Around Price (IOMAP) indicator developed by IntoTheBlock in this prediction. Although the indicator itself cannot be used to determine exact resistance or support points, information about the concentration of funds around a particular price can give a clue about the potential of the asset’s movement rate.
Accordingly, 99.21% of investors who bought FTM between 0.399 and 0.542 dollars made a profit, while only 0.76% made a loss.
At the time of writing, Phantom is trading at $0.482, up over 60% in the last 30 days.
Another altcoin on the analyst’s radar is Polygon (MATIC). Martinez says Polygon has a huge resistance zone to overcome.
“Polygon currently faces a formidable supply wall between $0.79 and $0.84. Approximately 39,000 addresses in this region have over 4.24 billion MATIC. “It is very important to overcome this level with conviction for MATIC to embark on the journey towards new heights.”
You can follow the current price movement here.