Despite a cross-border market correction, the Fantom price has recorded a positive action in its chart, suggesting an increase in the bullish sentiment. Moreover, with the recent price pump, this altcoin has successfully reclaimed the $0.40 level.
With this, questions like “Will FTM rise back up?” and “How high will the Fantom price go?” are on a constant rise. Planning on investing in this crypto token but concerned about its prospects?
Fear not, as in this article, we have uncovered the market sentiments, price action, and potential short-term price targets of the Fantom (FTM) token.
FTM Price Successfully Surpasses Its Important Resistance Level
After trading under a bearish sentiment for a brief period, the Fantom token has successfully regained bullish momentum above its crucial support trendline of $0.2325. Further, it has jumped 3.88% within the past day with a trading volume of $95.669 million.
Moreover, it has added 8.25% in the past 24 hours and has surged ~57% over the past 16 days. Notably, with a circulating supply of 2,803,634,836 FTM tokens, it has secured the 58th position with a market capitalization of $1.127 billion.
The Relative Strength Index (RSI) has displayed a constant rise in the FTM price chart, with its average trendline displaying a similar action. This indicates an increase in the bullish sentiment for the altcoin in the market.
Further, the MACD indicator has recorded a constant green histogram in the 1D time frame. Moreover, its averages show a rising pattern. This suggests that the Fantom token will continue to gain value in the future.
Will Fantom Price Hit $1?
If the market holds the FTM coin price above its support level of $0.390, the bulls will prepare to test its resistance level of $0.5375. Maintaining the price at that level will push its value toward its upper resistance level of $0.680 in the coming time.
For the Fantom (FTM) price to achieve the $1 mark, it will require a record jump of 147.83%, considering its present trading price of $0.4035.
On the flip side, if the bears regain power over the bulls, this could result in the Fantom price plunging toward its crucial support level of $0.2325.
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