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The well-known crypto trader and analyst Michael van de Poppe took to Twitter on February 8 to share his thoughts on the price of Fantom (FTM) and what the crypto could do in the coming days.
Said that you shouldn't chase assets like $FTM and $FET, but you can easily trade them.
— Michaël van de Poppe (@CryptoMichNL) February 8, 2023
First area of interest is hit around $0.50-0.47, if that holds we'll have a bounce of 15-25% likely.
Lower to $0.41? Swing entries. pic.twitter.com/C5inzpW9bA
Although Poppe believes that you should not “chase” assets like FTM, he still states that you can easily trade them. According to the post, the analyst believes that the first area of interest for FTM will be around $0.50 to $0.47. If the altcoin is able to hold this level, Poppe believes that the price of FTM could rise by 15% to 25%.
Poppe concluded the post by stating that traders will probably open swing entries around the $0.41 lower level.
Data from CoinMarketCap indicates that FTM has had a less than favorable past 24 hours as the crypto is currently down 10.28% to now trade at $0.5125. FTM is also in the red by more than 10% over the last seven days.
FTM also weakened against Bitcoin (BTC) and Ethereum (ETH) over the last day by about 8.23% and 7.97% respectively. Also in the red zone is FTM’s 24-hour trading volume which stands at $393,639,265 after a more than 23% decrease since yesterday.
The market cap of FTM stands at $1,423,896,756, which makes it the 41st biggest crypto in terms of market capitalization. This places the crypto right behind The Graph (GRT) which is ranked 40.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.