Guy Turner, the popular host of the Coin Bureau YouTube channel, shared his optimistic predictions for the Fantom (FTM) cryptocurrency in one of his recent videos. Addressing Coin Bureau’s 2.47 million subscribers, Turner stated that Fantom (FTM) has a significant upward potential, based on detailed technical analysis.
Turner stated that he observed a striking head and shoulders formation on FTM’s weekly chart, and that this formation is eerily similar to the peak formation seen in late 2021. This pattern is a pattern frequently seen in technical analysis and is often considered a harbinger of higher price movements.
According to Turner’s analysis, Fantom (FTM) could nearly double from its current price, up nearly 98%. This prediction caused great excitement among altcoin investors. Fantom is a project known for its innovative solutions, especially in the field of blockchain technology and DeFi (Decentralized Finance). The Phantom network stands out with its high speed and low cost processing capacity, and these features increase confidence in the project.
“Looking at the weekly chart shows that FTM could rise as high as $1.60 in the short to medium term, where it will likely stall due to resistance from the previous bull market. “What happens next is everyone’s guess.”
Coin Bureau host says the following about the reasons that support the bullish thesis for Fantom:
“There are some solid ‘mental highs’ in FTM, so to speak. It has a low price tag and a market cap large enough to prevent an epic rally. The fact that FTM’s offering has already been issued to investors, and when you factor in the massive footprint of the team, especially the Fantom Foundation, suggests there will be minimal selling pressure on their part…
The only thing FTM lacks is an explanation that individual investors can understand. And greater retail investor accessibility. Specifically, FTM is not currently listed on Coinbase, but it is possible that this could change if regulations in the US change.”
Guy Turner’s analyzes and predictions are often followed closely by a wide audience and constitute an important source of information for investors. Turner makes comprehensive and meticulous evaluations in his analyses, based on technical indicators, market trends and historical data. This ensures that the Coin Bureau channel has a respected place in the cryptocurrency community.
As a result, Guy Turner’s positive expectations on Fantom (FTM) are being closely watched and discussed by Coin Bureau’s large audience. Future movements of the altcoin price will indicate whether Turner will confirm his predictions. However, such analyzes and predictions will continue to be a valuable guide for making informed investment decisions in the cryptocurrency world.
You can access current market movements here.
