A prominent figure in the cryptocurrency analysis sphere has recently shared insights on an Ethereum (
ETH
) rival, suggesting a positive trajectory, while also providing an update on Bitcoin (
BTC
). During a recent strategy discussion, the well-known crypto trader Altcoin Sherpa informed his 217,600 followers on social media platform X that the smart contract platform Fantom (
FTM
) is showing signs of impending “healthy price action.”

“FTM is currently in a consolidation phase at a pivotal price point, closely interacting with the 200-day exponential moving average (EMA). My anticipation is for a choppy price range to establish itself between approximately $0.50 and $0.70, which would lay a solid foundation for future growth. I remain optimistic about FTM’s prospects, especially with their strategic shift towards Sonic.”


Source: Altcoin Sherpa/X
At the moment of reporting, FTM’s trading price stands at $0.564, marking a 2.5% increase over the past 24 hours.

Turning attention to Bitcoin, the leading cryptocurrency, the analyst expresses concern over its recent performance. The absence of a strong recovery following a significant price drop earlier this month is troubling.
“BTC’s lack of momentum is somewhat alarming… I’m considering reducing my holdings within the next 24 hours if no significant developments occur.”

Altcoin Sherpa further advises traders to contemplate reducing their Bitcoin holdings, as certain critical indicators suggest a lack of ongoing momentum for BTC.
“A concerning candlestick pattern has emerged on the 4-hour chart for BTC. The 25 EMA is proving to be a resistance point, and the price is struggling to maintain momentum. It might be wise to decrease your investment exposure slightly, given the lack of subsequent movement.”


Source: Altcoin Sherpa/X
Currently, Bitcoin is valued at $60,915, experiencing a slight uptick since the last day.

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Disclaimer: The views expressed by The Daily Hodl do not constitute financial advice. Investors are encouraged to conduct their own research before engaging in high-risk Bitcoin, cryptocurrency, or digital asset investments. Please be aware that your transactions and trades are your own responsibility, and any potential losses are solely your liability. The Daily Hodl neither endorses the purchase nor the sale of any cryptocurrencies or digital assets, nor does it act as an investment advisor. It should be noted that The Daily Hodl engages in affiliate marketing.
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