CandleFocus

Fantom (FTM) Price Aims for $1, Pushing 100 Million Tokens Into Profit

Author: Content Editor
The cryptocurrency Fantom (FTM), transitioning to Sonic (S), has experienced an 8% price increase in the past 24 hours, making it one of the top market gainers. Analysis suggests that there is potential for even greater gains, with key resistance levels and potential benefits for investors outlined. The Global In/Out of Money (GIOM) Around Price indicator indicates that holders who are currently out of money might soon gain from the price appreciation. Strong support at around $0.75 suggests that addresses currently holding a loss could soon be in profit, potentially valued at $75 million. Fantom's Open Interest has also increased, suggesting increased investment in FTM-related contracts. A bullish bias is supported by a well-known trader, who predicts that FTM's price will trade much higher in the future. Technical analysis indicates the formation of a bullish pattern and the potential for FTM's price to surpass resistance levels and reach $1 and possibly $1.14. However, there is a possibility of a pullback if large volumes of FTM holders book profits.

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