Is Fantom next to jump on bull rally? Chart reveals - CryptoCrazeNews

Is Fantom next to jump on bull rally? Chart reveals

Is Fantom next to jump on bull rally? Chart reveals

Is Fantom next to jump on bull rally? Chart reveals

Top cryptocurrencies such as Bitcoin, Ethereum, Solana, and a few others have experienced a massive gain in the last 30 days. Upon reviewing the performance of these leading cryptocurrencies, a prominent trader and analyst made a post on X (formerly Twitter) and highlighted the Fantom (FTM) token. The Fantom token continues to consolidate near the bottom.

Trader prediction on Fantom (FTM)

Additionally, the trader stated that if Fantom (FTM) manages to achieve its weekly closing above the $0.57 level, then in the coming days, we may witness a price rise to the $0.87 level. Currently, only the top cryptocurrencies are performing impressively, and the altcoins appear less active in recent days. It is expected that in the upcoming days, these less active altcoins will experience a significant surge.

However, one crucial factor that will play an important role in price action is the absence of a bullish price action pattern and investor attention. Without these elements, it is uncertain whether the token will experience a price surge.

According to expert technical analysis, Fantom’s FTM token on a weekly time frame is trading near a robust resistance level of around $0.57. Although FTM tokens have reversed from this resistance level several times before, the current overall market sentiment is bullish, with the world’s largest cryptocurrency, Bitcoin, heading towards its all-time high. If the FTM token breaks out this time, we may witness a bullish and substantial price surge reaching $1.09, as it represents another significant resistance level after $0.57.

Fantom technical analysis and key levels

In addition to this strong resistance level, when examining the FTM token on a weekly time frame, it currently shows two bullish price action patterns: an inverted head and shoulders pattern and a bullish cup and handle pattern. Following the breakout of these patterns, FTM may experience a massive upside momentum.

Currently, Fantom’s FTM token is trading near $0.48, and in the last 24 hours, it has experienced over 8% upside momentum. If we examine the performance of the FTM token over a longer period, in the last 7 days, the FTM price surged by over 20%, whereas in the last 30 days, it experienced over 26% of upside momentum. Following this substantial price surge, the 24-hour volume also increased by 10%, and currently, it stands near $138 million.

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