Fantom is looking Good for $1 level: Buy Now!

Fantom Crypto is breaking through major resistance levels and could be on the way to $1 mark.

The price has seen a remarkable recovery since its low of $0.25 in late August, and it’s now heading toward its next major resistance around $0.86, with even further potential gains ahead.

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FTM Crypto Price Analysis

• Current Price: $0.625
• Market Cap: $1.7 billion
• 24-Hour Trading Volume: $220 million
• Total Supply: 3.17 billion FTM
• Circulating Supply: 2.55 billion FTM

Img src- Altfins

Following a bullish breakout from Falling Wedge pattern, price has resumed an Uptrend. However, it got overbought RSI > 70) near $0.75 resistance and pulled back to $0.62 support, which could be a swing trade entry with +20% upside potential back to $0.75. Stop Loss at $0.57

Weekly Price Analysis

Fantom’s price has seen an upward correction over the past week. The key levels to watch are $0.57 as support and $0.86 as the next resistance.

• 7-Day Price Change: +8.3%
• Week Open Price: $0.577
• Week Close Price: $0.625
• Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up, Long-term trend is Up.
• Momentum is Bearish but inflecting. MACD Line is still below MACD Signal Line but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing an upswing. Price is neither overbought nor oversold currently.
• Support and Resistance: Nearest Support Zone is $0.62, then $0.50. Nearest Resistance Zone is $0.75, then $0.85.

Key Indicators

• RSI: 58 (indicating bullish momentum)
• MACD: Positive cross, showing continued bullish trend
• Bollinger Bands: Price nearing the upper band, signaling increased volatility

News Roundup

1. Partnership with LayerZero: Fantom announced a partnership with LayerZero.
2. Sonic Mainnet Anticipation: The upcoming launch of the Sonic mainnet has investors optimistic, recalling the success of past projects that boosted Fantom’s total value locked (TVL) significantly.

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Harsh Panghal

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