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What happened? Cryptanalyst Michael van de Poppe advised to open a long position on the Fantom token (FTM). He believes that there is a good entry point on the altcoin chart, since the coin has a prospect of growth to $ 0.48 (an increase of almost 40% from the current rate). As of May 27, 2022, FTM is trading at $0.35 (according to Binance).
What is Fantom? This is a DeFi smart contract platform for decentralized applications and digital assets, created in 2018. The network is compatible with the Ethereum Virtual Machine (EVM) and supports the Solidity programming language. The platform hosts dozens of blockchain projects, including decentralized exchanges and NFT marketplaces.
What happened before? In his previous posts, van de Poppe talked about other promising altcoins. He expects three assets to rise: Chainlink (LINK), Decentraland (MANA) and THORChain (RUNE). The analyst urged to buy these tokens as soon as possible and told about them in more detail.
Van de Poppe also noted Zilliqa (ZIL), Polygon (MATIC) and XCAD Network (XCAD) as promising low-cap altcoins. In his opinion, these tokens have a chance to grow in price.
In addition, the analyst called the conditions for the rebound of the price of bitcoin above $ 30,000. To provoke an increase in the value of the first cryptocurrency can slow down consumer price inflation or reduce the number of applications for unemployment benefits. Van de Poppe explained that compliance with one of these conditions could prompt the US Federal Reserve (FRS) to relax monetary policy measures.
Also, Santiment experts named three assets that are in an extreme degree of oversold and are ready for impulse growth: Maker (MKR), Serum (SRM) and Binance Coin (BNB).
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