Fantom Price Eyes To Hit $2 With A Breakout Rally Next Week?

Amid the continued crypto volatility, the altcoin market has gained important traction in current days. Notably, prime altcoins like Fantom are up ~80% within the final 30 days, indicating a powerful bullish outlook.

Will Fantom Worth proceed its bullish value motion and attain the $2 mark this 12 months? On this article, we’ve got uncovered the short-term market sentiment and potential value targets of the Fantom (FTM) crypto token.

FTM value kinds a rising channel sample!

The Fantom token added 5.34% to its portfolio in 24 hours with a buying and selling quantity of $404.112 million. Regardless of registering a 4.76% decline prior to now week, this altcoin is up ~80% in 30 days and has a YTD return of 169.22%.

The Easy Transferring Common (SMA) is supporting the longer-term Fantom value chart, indicating robust bullish value motion for the FTM crypto token.

The Relative Energy Index (RSI) registers a pointy decline beneath the overbought vary within the each day time-frame. Nonetheless, the common trendline continues to hover across the overbought vary. This means combined value sentiment for the altcoin within the crypto market.

How excessive will the FTM value go?

If bullish sentiment strengthens, Fantom value may retest its $1.40 resistance stage this weekend. Sustaining the worth above that stage may set the stage for this altcoin to maneuver in direction of its excessive value goal of $1.60.

Conversely, if a development reversal happens, FTM coin value may retest its $1.20 help stage. Moreover, if the bears acquire dominance, it may result in this crypto token falling in direction of the decrease help stage of $1 this month.

To seek out solutions to questions like: Will the Fantom value attain $10? Learn our Fantom value forecast. Additionally, subscribe to CoinPedia to remain updated with the newest cryptocurrency information!

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