Home Latest Cryptocurrency News Altcoin analyst calls Near Protocol a solid project, sees FTM bottoming at $1.50

Altcoin analyst calls Near Protocol a solid project, sees FTM bottoming at $1.50

By Sam Grant - min read
Updated 21 March 2023

The market has gained ground on Friday following yesterday’s pullback that halted the uptrend that started on Monday
Fantom, alongside other altcoins, is seeing modest gains

Crypto analyst Altcoin Sherpa has shared in a series of tweets his short-term predictions for Bitcoin (BTC), Fantom (FTM), and Near Protocol’s native token NEAR. Sherpa, an advisor for the decentralised cross-chain liquidity aggregator Atlas, has previously made a number of right calls on various alts.

NEAR/USD

NEAR posted an all-time high slightly above $20 just a little over two weeks ago. The surge was propelled by several factors, including Near Protocol’s successful completion of a $150 million funding round led by Three Arrow Capital.

Since then, NEAR/USD has lost over 40% of its value and is currently trading at $11.26. The pair attempted to breach $12 earlier this week before seeing a dip alongside other tokens yesterday.

In a tweet posted on Wednesday, Sherpa maintained that the rising community-run cloud computing platform is a solid project.

NEAR/USD trading chart. Source: Altcoin Sherpa

“I am still in my position but waiting for a bit lower potentially. I did add in the low $10s […] Still thinking this one is a solid project,” he wrote.

FTM/USD

Fantom’s FTM has re-entered the $2.00 zone for the third time over the last seven days following a series of pullbacks. Yesterday’s market recession saw the token drop to a 7-day low of $1.88. the token has since embarked on an uptrend towards $2.10.

Sherpa, however, sees FTM/USD sinking again, but this time as low as $1.50. He also advanced that it is unlikely that the pair will rally again any time soon.

FTM/USD trading chart. Source: Altcoin Sherpa

“Still coming down to $1.50 eventually IMO,” he posted today. “It’ll take a while before it runs again IMO. Will need to chop and consolidate.”

BTC/USD

Sherpa also gave his opinion on the leading crypto, which is currently on the verge of cutting above 38,000 – having seen approximately 2.80% gains in the last 24 hours.

In his Thursday analysis, the crypto strategist shared Bitcoin’s trading chart since December 2020, noting the asset might still slump to a demand area.

BTC/USD trading chart. Source: Altcoin Sherpa

“This is fine from an overall higher time frame point of view; you want price to come back to the demand area and you want to see wicks there. I said before that even if 33k is the bottom, we will probably get a revisit to that area. Still being patient.”