The crypto space had undergone a significant upswing in the past couple of weeks as Bitcoin price hailed over $17,000 for some time and dropped back below the levels very quickly. Meanwhile, the altcoins including Fantom(FTM) price followed the star crypto and jumped significantly.
A widely followed analyst, Micheal van de Poppe identifies the next course of action for the FTM price and foresees the asset to reach $0.5 very soon.
The analyst mentioned the strong upswing that slashed the pivotal levels between $0.2389 and $0.2393. The price pierced through these levels after a brief consolidation, marking the beginning of a fresh upswing. The surge may uplift the price to the interim highs at around $0.27 which may pave the way to reach the November high close to $0.3 by the mid of December 2022.
Collectively, the crypto space presently is pretty uncertain as the prices of the top cryptos have been trading within undetermined levels. While some of the cryptos like XRP, maintained an independent trend, the majority of the altcoins tend to follow the Bitcoin price trend. However, the Fantom (FTM) price, which is largely appearing to be bullish, is expected to undergo a “u-shaped” recovery to reach $0.3 in the next couple of weeks.