The altcoin space has remained calm in the recent past, with most projects signaling imminent bullish breakout after consolidating in the past seven months. The crypto cash rotation will be favoring the altcoins in the near term after Bitcoin’s (BTC) price dominated the past year.
The approval of spot Ether ETFs in the United States and spot Solana ETFs in Brazil is an indication of rising demand for altcoins around the world. Additionally, clear regulatory frameworks around the world including Russia, UAE, India, Europe, Singapore, Hong Kong, and the United Kingdom have helped increase the mainstream adoption of digital assets and web3 protocols.
Fantom (FTM), a fast-growing layer one blockchain with over $110 million in total value locked (TVL) and over $321 million in stablecoins supply, has signaled a potential bullish breakout in the near term. The mid-cap altcoin, with a fully diluted valuation of about $2.1 billion and a daily average trading volume of around $496 million, surged around 6 percent in the last 24 hours to trade around 69 cents on Tuesday during the mid-London session.
According to a popular crypto analyst alias Captain Faibik, the FTM price is on the cusp of at least a 139 percent rise in the near term. The crypto analyst highlighted that the FTM price has already retested the daily breakout from a falling wedge.
After being trapped in a falling channel in the last six months, Solana (SOL)-based meme coin dogwifhat (WIF) has signaled an imminent bullish breakout in the near term. The mid-cap meme coin, with a fully diluted valuation of about $2.47 billion, has pumped over 31 percent in the past two weeks to trade around $2.48 on Tuesday at the time of this report.
As a result, WIF price has successfully broken out of a falling trend and is well positioned for a 150 percent spike to the next major resistance in the near term.
Turbo (TURBO), a fast-growing meme coin based on the BSC network that was recently listed on the Binance exchange, has signaled bullish sentiment. According to Captain Faibik, Turbo price is well primed for a 360 percent spike after successfully retesting the breakout from a daily triangular pattern.
The altcoin market is heating up. Are you ready to jump on board?
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