Amid the ongoing crypto volatility, the altcoin market has gained significant traction over the past few days. Notably, top altcoins such as Fantom have surged ~80% over the 30 days, indicating a strong bullish outlook.
Will Fantom Price maintain its bullish price action and achieve the $2 mark this year? In this article, we have uncovered the short-term market sentiments and possible price targets of the Fantom (FTM) crypto token.
FTM Price Forms A Rising Channel Pattern!
The Fantom token has added 5.34% to its portfolio in 24 hours with a trading volume of $404.112 million. Despite recording a drop of 4.76% over the past week, this altcoin has surged ~80% in 30 days and has a YTD return of 169.22%.
The Simple Moving Average (SMA) supports the Fantom price chart in the longer time frame, suggesting a strong bullish price action for the FTM crypto token.
The Relative Strength Index (RSI) records a sharp decline below the overbought range in the daily time frame. However, the average trendline continues hovering around the overbought range. This highlights a mixed price sentiment for the altcoin in the crypto market.
How High Will FTM Price Go?
If the bullish sentiment intensifies, the Fantom price could retest its resistance level of $1.40 this weekend. Maintaining the price above that level could set the stage for this altcoin to head toward its upper price target of $1.60.
Conversely, if a trend reversal occurs, the FTM coin price could retest its support level of $1.20. Furthermore, if the bears gain dominance, this may result in this crypto token plunging toward its lower support level of $1 this month.
To find out answers to questions like, Will Fantom price hit $10? Read our Fantom price prediction. Also, subscribe to CoinPedia to stay updated on the latest cryptocurrency news!
FAQs
If the bullish sentiment sustains, the FTM coin price could surpass the $2 mark and close the year 2024 with an annual high of $2.22.
With increased adoption, this altcoin may reach a maximum price of $11.54 during that year.
With an intraday jump of 5.34%, the FTM price is currently exchanging hands at $1.2692.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed