{"id":559089,"date":"2023-11-04T00:00:16","date_gmt":"2023-11-04T00:00:16","guid":{"rendered":"https:\/\/wncen.com\/?p=559089"},"modified":"2023-11-03T19:22:10","modified_gmt":"2023-11-03T19:22:10","slug":"fantom-explode-like-solana-analyst-bullish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fantom\/fantom-explode-like-solana-analyst-bullish\/","title":{"rendered":"Is Fantom (FTM) About To Explode Like Solana (SOL)? This Analyst Thinks So"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">FTM, the native currency of the Fantom ecosystem, might be the next coin to follow and perhaps outperform Solana (SOL). This optimistic preview is by one technical analyst, &#8220;Magnate,&#8221; who, in an X\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/THE_MAGNATE\/status\/35829049\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">post<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0on October 3, said traders who missed the SOL rally may have a chance with FTM.\u00a0<\/span><\/p>\n<figure id=\"attachment_559091\" aria-describedby=\"caption-attachment-559091\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-559091\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?resize=1024%2C495\" alt=\"FTM likely to rally| Source: Magnate on X\" width=\"1024\" height=\"495\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=2930 2930w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/F98vy3jWkAAcw6p.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-559091\" class=\"wp-caption-text\">FTM likely to rally | Source: Magnate on X<\/figcaption><\/figure>\n<h2><span data-preserver-spaces=\"true\">Solana Is Exploding: Reverses Post-FTX Losses<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">At press time, SOL is trading at new 2023 highs and has reversed all <a href=\"https:\/\/wncen.com\/news\/solana\/solana-flying-bulls-post-ftx-collapse-losses-reversed\/\" target=\"_blank\" rel=\"noopener \">post-FTX<\/a> losses. Changing hands at $39 as of writing on November 3, the SOL uptrend remains, looking at the candlestick arrangement in the daily chart. Specifically, SOL is up 125% from September lows and 190% from June 2023 highs.\u00a0<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/sYm4x5Er\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/sYm4x5Er\/\" alt=\"Solana price trending upwards on the daily chart| Source: SOLUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Solana price trending upwards on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/sYm4x5Er\/\" target=\"_blank\" rel=\"noopener nofollow\">SOLUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">At this pace, SOL has outpaced Bitcoin (BTC) and Ethereum (ETH), two of the world&#8217;s largest cryptocurrencies. This is despite Bitcoin, buoyed by the broader crypto&#8217;s optimism of the United States Securities and Exchange Commission (SEC) approving the first spot Bitcoin exchange-traded fund (ETF) in the coming weeks. The general confidence is despite the SEC laying out a potential timeframe for when this product will go live.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/regulatory-approval-to-offer-xrp-services\/\" target=\"_blank\" rel=\"noopener \">Ripple Achieves Regulatory Approval To Offer XRP Services<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Looking at the SOL daily chart, primary support is around the November 2022 high at around $36&#8211;a key reaction line traders are closely monitoring. As it is, there has been a cool-off, but traders are confident of a pullback, pushing the coin back higher in a bullish breakout formation.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Is Fantom (FTM) Preparing For A 100% Surge?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Magnate, sharing the daily and weekly charts of FTM, noted that the coin appears to be bouncing off a critical support zone. In the weekly chart, the uptrend is defined. FTM is picking momentum, edging higher as confidence, partly due to fundamental events and the recovery across the board, is changing sentiment, propping bulls.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/this-chainlink-metric-just-hit-meteoric-levels-good-news-for-link-price\/\" target=\"_blank\" rel=\"noopener \">This Chainlink Metric Just Hit Meteoric Levels \u2013 Good News For LINK Price?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">From the daily chart, FTM found support at 2022 lows before edging higher to spot rates. This leg up has catalyzed demand, lifting the coin 35% from October lows. Still, FTM is down approximately 65% from February 2023 highs.<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/whET8Gtr\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/whET8Gtr\/\" alt=\"Fantom price trending upwards on daily chart| Source: FTMUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Fantom price trending upwards on daily chart| Source: FTMUSDT on Binance, TradingView<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Even so, only time will tell if FTM will track SOL, lifting off by over 100%, as the technical analyst predicts. Although there have been some challenges, there are also some positive developments taking place. One such development is that Messari, an analytics platform, recently\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/MessariCrypto\/status\/64070962\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">observed<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0a surge in Fantom&#8217;s on-chain activity.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to their findings, the average number of new addresses added to the network daily increased by 106% in the last quarter. In comparison, the average number of active addresses per day rose by 3% in the same period.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>FTM, the native currency of the Fantom ecosystem, might be the next coin to follow and perhaps outperform Solana (SOL). This optimistic preview is by one technical analyst, &#8220;Magnate,&#8221; who, in an X\u00a0post\u00a0on October 3, said traders who missed the SOL rally may have a chance with FTM.\u00a0 Solana Is Exploding: Reverses Post-FTX Losses At press time, SOL is trading at new 2023 highs and has reversed all post-FTX losses. Changing hands at $39 as of writing on November 3, the SOL uptrend remains, looking at the candlestick arrangement in the daily chart. Specifically, SOL is up 125% from September lows and 190% from June 2023 highs.\u00a0 At this pace, SOL has outpaced Bitcoin (BTC) and Ethereum (ETH), two of the world&#8217;s largest cryptocurrencies. This is despite Bitcoin, buoyed by the broader crypto&#8217;s optimism of the United States Securities and Exchange Commission (SEC) approving the first spot Bitcoin exchange-traded fund (ETF) in the coming weeks. The general confidence is despite the SEC laying out a potential timeframe for when this product will go live. Related Reading: Ripple Achieves Regulatory Approval To Offer XRP Services Looking at the SOL daily chart, primary support is around the November 2022 high at around $36&#8211;a key reaction line traders are closely monitoring. As it is, there has been a cool-off, but traders are confident of a pullback, pushing the coin back higher in a bullish breakout formation.\u00a0 Is Fantom (FTM) Preparing For A 100% Surge? Magnate, sharing the daily and weekly charts of FTM, noted that the coin appears to be bouncing off a critical support zone. In the weekly chart, the uptrend is defined. FTM is picking momentum, edging higher as confidence, partly due to fundamental events and the recovery across the board, is changing sentiment, propping bulls.\u00a0 Related Reading: This Chainlink Metric Just Hit Meteoric Levels \u2013 Good News For LINK Price? From the daily chart, FTM found support at 2022 lows before edging higher to spot rates. This leg up has catalyzed demand, lifting the coin 35% from October lows. Still, FTM is down approximately 65% from February 2023 highs. Even so, only time will tell if FTM will track SOL, lifting off by over 100%, as the technical analyst predicts. Although there have been some challenges, there are also some positive developments taking place. One such development is that Messari, an analytics platform, recently\u00a0observed\u00a0a surge in Fantom&#8217;s on-chain activity.\u00a0 According to their findings, the average number of new addresses added to the network daily increased by 106% in the last quarter. In comparison, the average number of active addresses per day rose by 3% in the same period. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":559090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[87842],"tags":[9376,89676,43491,85756,12837,83626,85361,83627],"class_list":["post-559089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fantom","tag-fantom","tag-fantom-price","tag-ftm","tag-ftmusdt","tag-sol","tag-solana","tag-solana-price","tag-solusdt"],"acf":[],"yoast_head":"\n<title>Is Fantom (FTM) About To Explode Like Solana (SOL)? 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Fantom (FTM) About To Explode Like Solana (SOL)? 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