CandleFocus Fantom (FTM) Rallies 68% in 30 Days, but the Path to $1 Remains Unclear
2024-10-08
Author: Content Editor
The price of Fantom (FTM) has surged 68% in the last 30 days, leading to speculation that it could return to $1. However, on-chain data suggests that reaching this milestone is not guaranteed. FTM's price currently sits at $0.69, down from $0.71 in September. This decline may be due to FTM holders booking profits after the recent hike. Additionally, the correlation between FTM and Bitcoin (BTC) suggests that FTM's price may follow a similar direction to BTC. FTM's price is approaching the supply zone at $0.73, where it historically experiences a pullback. Bulls will need to push the token above this resistance to prevent a decline, potentially allowing it to rise to $0.80 and eventually $1 in the short term.
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