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After recent news about spot Ethereum ETFs, ETH price surged above $3,500, while Bitcoin price surpassed $71,000. As of writing, BTC is above $71,200, seemingly pulling the market up with it. In this context, an analyst suggested that one of Ethereum’s competitors might rise, drawing attention to this altcoin.
Fantom (FTM) Comments
A closely followed crypto analyst expressed a bullish view on an Ethereum (ETH) competitor that has risen over 35% in the last 7 days, drawing all attention to it.
The analyst, known as Altcoin Sherpa, told thousands of users on the X social media platform that Fantom (FTM) might experience rallies in the coming period and said:
FTM is heading towards $1 before any pullback, and I think it should rise further in the next six months. Interesting upgrades/pivots are coming here, and I have some. This looks strong in the short term.
As of writing, the rise in FTM continued. FTM price rose to $0.9075 after a 5% increase in the last 24 hours, confirming the analyst’s prediction.
Will Chainlink (LINK) Rise?
Regarding Chainlink (LINK), which serves as the native asset of the decentralized oracle network, the analyst stated that the altcoin is in a position to start a breakout rally.
I think if LINK can surpass $16, it could rise to $20. Still, I wouldn’t personally buy from here.
As of writing, LINK seemed to have surpassed the $16 mentioned by the analyst. After a 0.05% increase in price, it was finding buyers at $16.95.
Analyst’s View on the 4th Meme Coin
The analyst also examined meme coins. The analyst took a look at the memecoin dogwifhat (WIF) and made the following statement:
WIF: $2.30 should provide a bounce area. I thought it would surpass the high range, but I was definitely wrong. We might also see the wick getting stuck around $1.80 again. These should generally be good short-term bounces.
As of writing, WIF was finding buyers at $2.76 after a 6.47% increase in the last 24 hours.
