Two closely-followed analysts cited altcoin projects that they expect to rally. While Invest Answers is bullish on Fantom, analyst Akash Girimath pointed to QTUM, KNC and TRB. Here are the details…
Invest Answers bullish on Ethereum rival Fantom
A closely followed crypto analyst is predicting a spike for an Ethereum (ETH) challenger as one of the ten chain metrics shows promising strength. In a new video update, InvestAnswers’ pseudonymous server tells its 442,000 subscribers that Ethereum rival Fantom (FTM) and its steady increase in daily transactions could signal a bullish move for FTM in the near future. Invest Answers uses the following phrases:
We can compare Ethereum with Phantom transactions. As you know, I like to look at transactions. Transaction rates, daily active users, stuff like that… Here, if you look at the daily transaction count, Ethereum is against the Phantom 922,000 at 1.2 million transactions. If you look at the chart Phantom… has been slow progressing since May 2021. So it’s slow and steady and that can be very good sometimes. He wins the race. We don’t see a huge drop in transactions like other chains, so another upswing for this Phantom. It’s worth looking at once again.
Looking at the technical specifications of FTM, the analyst says that if Fantom manages to remove its sudden resistance, the smart contract platform is targeting a significant rise from current prices. The analyst uses the following statements:
Now the interesting thing is when you look at Phantom… there is some resistance around $0.34 and potentially a 12-20% increase as we move forward. Who knows, we could go for $0.40 or even a little more pretty quickly. Now there is a bullish thesis about it… Also, when you look at the volume on Phantom, it made a volume of 310 million, which is a big gain compared to the previous volume. That’s why so many activities are coming back.
3 altcoins with upside potential
On the other hand, analyst Akash Girimath is waiting for a rally for Qtum (QTUM). Qtum is a proof-of-stake (PoS) smart contract open source Blockchain platform and value transfer protocol. It aims to combine the strengths of Bitcoin and Ethereum on a single chain. Another coin that the analyst drew attention to was Kyber Network Crystal (KNC). Kyber Network is a liquidity protocols center that collects liquidity from various sources to provide secure and instant transactions in any decentralized application (DApp). Finally, the analyst draws attention to Tellor (TRB). Tellor is a decentralized oracle protocol.
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