The Fantom price has fallen 12.86% over the past 11 days, underscoring the increased selling pressure for the altcoin in the crypto market. However, the bulls kept it above $0.70. This resulted in a positive rebound for the altco.
Will the crypto bulls maintain their bullish sentiments to help the FTM crypto price regain the $1 mark this month? In this article, we discussed the short-term market sentiment, price analysis, and possible short-term price targets of the Fantom (FTM) crypto token.
FTM Price Registers Bullish Reversal!
Fantom price is up over 3% in 24 hours with a trading volume of $228.57 million, a change of +4.89%. Notably, this altcoin has seen significant price action in recent days, highlighting the increased price action.
The Simple Moving Average (SMA) continually acts as resistance to the FTM price chart in the daily time frame. This indicates an increase in selling-over-buying pressure in the crypto market.
On the other hand, the MACD indicator shows a constant decline in the red histogram. Moreover, the averages indicate a potential bullish convergence. This indicates mixed price sentiment for the altcoin in the coming week.
Will the FTM price reach $1?
If the bullish sentiment continues, Fantom coin price could retest its USD 0.80 resistance level. Maintaining the price above that level could set the stage for this altcoin to move towards its target price of $1 this month.
On the contrary, if the bears gain strength again, the FTM crypto price could register a bearish reversal. This could lead to Fantom’s price falling towards the crucial supporting trendline at $0.60.
To find answers to questions like “Can FTM reach $50?” Read CoinPedia’s Fantom Price Prediction to Uncover the Potential Mysteries Until 2030!
Frequently asked questions
Fantom price could reach this price tag by the year 2026 if bullish sentiment continues.
With a 24-hour trading volume of $232.52 million, the FTM token is currently trading at $0.7012.
With an ATH of $3.48, this altcoin is currently highly undervalued. This potentially makes this a good investment for the long-term prospects.
Credit : coinpedia.org
