The post Fantom leads altcoin rally; Near Protocol eyes $10 as GFOX meme coin pumps 30% appeared on BitcoinEthereumNews.com.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The crypto market saw a strong recovery today following the CPI report that US inflation is now at 3.4%. Bitcoin pumped 7% to $66k on the news, while some altcoins, such as Fantom (FTM), rose by almost 30%.  AI coins also reacted well to this news, with Near Protocol (NEAR), one of the leaders in the AI crypto sector, pumping 17% today. Meanwhile, some low-cap meme coins did well too, with Galaxy Fox (GFOX) price pumping 33%. Let’s dig into the details… Fantom (FTM) price prediction FTM price is trading around $0.81 after pumping 26% today. Coinpedia posted an analysis that highlights a robust bullish reversal for FTM. An impressive 26% increase in the last 24 hours marks a significant turnaround, underlining strong buyer interest.  A substantial overnight jump in Bitcoin has catalyzed a broader altcoin sector recovery, benefiting Fantom significantly. The current momentum suggests that FTM is well on its way to surpassing the $1 milestone.  A spike in trading volume supports the ongoing surge, indicating solid bullish conviction among traders. The RSI nearing the 70% line showcases a dramatic increase in buying pressure and market enthusiasm. Breaking above the 50-day EMA has successfully averted a potential death cross, reinforcing the bullish outlook.  The price challenges the 23.60% Fibonacci level at $0.8194, with eyes set on further gains. If momentum continues, FTM could not only breach $1 but could aim for the $1.618 Fibonacci level at $1.85. The end of a consolidation phase paves the way for a new bull run, potentially leading to substantial price increases. Near Protocol (NEAR) leads AI crypto rally as price eyes $10 NEAR price is trading around $8 after pumping 17% today.…

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Filed under: News - @ May 19, 2024 2:10 am