Guy Turner, the popular host of the Coin Bureau YouTube channel, has a positive outlook on one of Ethereum’s competitors. In a video addressed to the channel’s 2.47 million subscribers, Turner shared his analysis on the layer-1 blockchain platform, Fantom (FTM), and highlighted its potential for growth.

Turner pointed out an interesting pattern on the weekly chart of Fantom, which resembled a head and shoulders formation similar to the one observed in late 2021. This pattern suggests the possibility of another upward movement in the near future. According to his analysis, Fantom could potentially surge by around 98% and reach a price of $1.60.

The current price of Fantom stands at $0.810 at the time of writing. Turner believes that once it reaches $1.60, it might encounter resistance from previous market participants, known as “bag holders,” which could potentially halt its rally.

Explaining his bullish stance on Fantom, Turner highlighted the platform’s favorable fundamentals. He emphasized that Fantom has a relatively low price and market cap, making it more accessible for potential investors. Additionally, he noted that the majority of FTM tokens have already been distributed to investors and the team, which reduces the potential sell pressure. Turner also mentioned the Fantom Foundation’s extensive roadmap, indicating long-term support for the project.

However, Turner acknowledged that Fantom lacks a compelling narrative that could attract retail investors. He also pointed out the need for increased retail accessibility, noting that Fantom is not currently listed on Coinbase, one of the most popular cryptocurrency exchanges in the United States. He suggested that if regulatory conditions change in the US, Fantom’s listing on Coinbase could become a possibility.

In conclusion, Turner expressed his optimism regarding Fantom’s potential for growth. While acknowledging the platform’s positive fundamentals, he emphasized the importance of addressing retail investors’ needs and increasing accessibility to further drive Fantom’s success.

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