The crypto analyst who is widely respected believes that Ethereum (ETHThis year, ) competitor could perform well.
Altcoin Sherpa, a pseudonymous analyst tells His 214,300 fans on social media platform X That Fantom (FTMThe value of a ) may increase by more than 15 % from the current price.
“FTM: I think this is still a very solid coin and should do well in 2024 given their treasury. That said, would like to see consolidation for a longer-term bottom forming. Expecting that level to be $0.83 or $0.70. Still bullish and I have a bag.”
A trader based on his chart suggests Fantom might dip below the Fibonacci Retracement Level around $0.80, before rallying up to $1.15.
Fantom has risen nearly 9% since the previous 24 hours to $1.02 as of this writing.
Next, we have the trader predicts Ethena (ENA), a governance token launched by Ethena Labs for the project’s DeFi protocol, will break out after a period of consolidation around the $1.24 level.
“ENA first reaction. I think that we’re going to consolidate and then leg up.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Trader-Says-One-Ethereum-Rival-Will-Do-Well-in-2024.png)
Ethena has risen 4.6% to $1.22 in 24 hours.
As the trader continues, expects Core will retrace before it moves to the upside.COREA layer-1 blockchain which leverages Bitcoin’s advantages (BTC) proof-of-work network.
“CORE: this one is chilling after having a crazy run. I think that this current .50 area around $2.50 all the way down to $2 seems reasonable to start buying. Expecting BTC ecosystem projects to do pretty well for the next 12-18 months.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1712798824_719_Trader-Says-One-Ethereum-Rival-Will-Do-Well-in-2024.jpeg)
At the time of this writing, Core was trading at $2.37. This is a drop of more than 11 % in just 24 hours.
The trader is last but not least says He remains optimistic about the Mantra project, which focuses on tokenizing real-world assets (RWAs).OM).
“OM: I always thought that $0.50 would be a great buy but it hasn’t come (yet). A bit of a scary area here but I’m still bullish on this one as a RWA play (I have a bag).”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1712798824_570_Trader-Says-One-Ethereum-Rival-Will-Do-Well-in-2024.png)
OM currently trades at $0.81, an increase of more than 4% over the past 24 hours.
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Source: dailyhodl.com