FTM Price Prediction: Will Fantom Surpass $1 This Week?
The post FTM Price Prediction: Will Fantom Surpass $1 This Week? appeared first on Coinpedia Fintech News
With a 67% surge last week, the FTM price is ready to challenge the $1 mark.
With the trading volume crossing the mark of $600 Million, the interest spikes for Fantom in the crypto market.
As per the Fib levels, the $1 breakout can pump the FTM price to $1.36.
Heading to surpass the $2 Billion market cap, Fantom’s price is on a bullish rally with high momentum. As the overall market continues the bullish climb, the altcoins are on the rise, increasing the bull run chances in the FIL price trend.
With the markets scaling new heights after crossing the $2 Trillion mark, the altcoin season is here. As the buying pressure for the altcoin surges, our FTM price prediction projects a stronger bull run to $10 soon.
FTM Price Ready For $1 Breakout
After months and years of a bearish phase, the FTM price is finally kicking off a trend reversal and overcoming the overhead supply. With a 67% rise in the market price last week, the Fantom price is well positioned above the psychological mark of $0.50.
Source – TradingView
Forming a new 52W high at $0.75, Fantom breaks above the supply zone at $0.65 and offers a breakout entry to sideline traders. Currently, the FTM price trades at $0.6755 with an intraday drop of 3.72% after the remarkable rally.
Amid the current bull run, which is encountering minimal resistance across various Fibonacci levels, there’s a noticeable increase in underlying demand. This bullish sentiment is further validated by a substantial uptick in intraday trading volume, underscoring the strength of the uptrend.
Technical Indicators:
RSI Indicator: A positive weekly trend in the RSI line crosses above the overbought boundary, reflecting a surge in trading volume.
EMA: The bullish rise is presenting a potential surge in 50W EMA to diverge from the 200W EMA. Thus giving a golden crossover.
How High Will The FTM Price Go?
Amidst the rising demand for altcoins and the Bitcoin price surpassing the $64,000 mark, the FTM price trend preps for a bull run. Considering the uptrend crosses above the 23.06% Fibonacci level, the Fantom price is preparing for a trend reversal to reclaim the $1 mark.
Optimistically, the uptrend can reach the $2 mark or the 61.80% Fibonacci level if the trend momentum sustains.
Filed under: Bitcoin - @ March 4, 2024 8:09 am