Fantom Price Soars 40% In 7 Days, Targets To Hit $1.20?

Story Highlights

• The FTM value is as soon as once more testing the $1 mark and is up 47.36% this month.
• The technical indicators level to a possible bullish reversal.
• Elevated shopping for stress might push the value above the $1 mark.

The Fantom token has hit an 8-month excessive with its current value rise. Notably, up ~50%, the FTM value is again below the market highlight, with many buyers retaining an in depth eye on it.

Will the migration to Sonic (S) assist the FTM value regain momentum? Or will the altcoin proceed to lose momentum within the final month of this 12 months and erase all its month-to-month positive factors? On this article we mentioned the potential short-term prospects.

FTM value experiences a pullback across the $1 mark!

With a powerful bearish pullback on the key resistance degree of $1, Fantom value is down 1.26% in 24 hours with a buying and selling quantity of $896.48 million. This 12 months, nevertheless, it’s up simply over 100%, doubling its investor portfolio.

The Relative Energy Index (RSI) data a rejection within the overbought vary within the every day time-frame. Nevertheless, the typical trendline reveals a constructive enhance, indicating a excessive chance of a bullish reversal within the close to future.

Furthermore, the 50-day EMA helps the FTM value chart, with the 200-day ones seeing a continuing enhance. This highlights the constructive outlook for the altcoin this week.

How excessive can Fantom Value go?

If the bulls achieve momentum once more, the FTM coin value will attain the $1 degree once more this week. Sustaining the value above that degree might set the stage for this altcoin to go in direction of its excessive value goal of $1.20 within the close to future.

Quite the opposite, if the bears outrun the bulls, Fantom coin value will retest its help degree at $0.840. Moreover, if bearish sentiment strengthens, it could lead on the altcoin to slip in direction of the decrease help degree of $0.680 this 12 months.

To seek out out when “will the FTM value attain a brand new ATH?” Learn CoinPedia’s Fantom Value Prediction and in addition subscribe to us to remain updated with the newest cryptocurrency information!

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