A widely followed crypto strategist believes three altcoins could make significant gains in 2024. Pseudonymous analyst Altcoin Sherpa identifies Fantom (FTM), Ethena (ENA), and Core (CORE) as potential outperformers, predicting potential upswings of over 15%. He also remains bullish on Mantra (OM), highlighting its focus on real-world asset tokenization.
Crypto Strategist Forecasts Promising Performance for Ethereum Rival Fantom
Prominent crypto analyst Altcoin Sherpa has identified Fantom (FTM), an Ethereum (ETH) competitor, as a potential outperformer in the current market. With a substantial following of over 214,000 on the social media platform X, Sherpa shared his insights, anticipating a significant surge in FTM's value.
"FTM: I believe it remains a solid investment option and is poised for growth in 2024 based on its treasury holdings," Sherpa stated. However, he emphasized the need for consolidation to establish a long-term price floor, expecting it to fall within the range of $0.83 to $0.70. "Despite the potential dip, I maintain a bullish stance and hold a position in FTM," he added.
Chart analysis conducted by Sherpa suggests FTM could experience a retreat to around $0.80, coinciding with the Fibonacci retracement level. Post-consolidation, he anticipates a rally toward $1.15. Notably, FTM was trading at $1.02 at the time of publication, having appreciated by approximately 9% over the preceding 24 hours.
Ethena, Core, and Mantra Also Under Scrutiny
Altcoin Sherpa extended his predictions to encompass Ethena (ENA), a governance token associated with the DeFi protocol of Ethena Labs. He projected that ENA would initiate a breakout following a period of consolidation around $1.24. "ENA is poised for a leg up after the initial reaction," he commented. ENA was trading at $1.22 at the time of writing, indicating a 4.6% gain over the previous day.
Core (CORE), a layer-1 blockchain that leverages the advantages of Bitcoin's proof-of-work network, was also on Sherpa's radar. He anticipated a retracement before an upward move, suggesting a buying range of $2.50 to $2. "I expect projects within the BTC ecosystem to perform well in the next 12-18 months," Sherpa noted. CORE was trading at $2.37 at the time of publication, having experienced an 11% decline in the past 24 hours.
Mantra (OM), a crypto project focused on real-world asset (RWA) tokenization, remained another favorite of Sherpa. "I initially anticipated $0.50 as an attractive entry point for OM, but it has yet to reach that level," he remarked. "Despite the current market uncertainty, I remain optimistic about OM's potential as an RWA play," he added, indicating that he also holds a position in the asset. OM was trading at $0.81 at the time of writing, showing a gain of over 4% in the last day.
