CandleFocus Fantom On “Everyone’s Watchlist?” Analyst Explains Why
2024-09-20
Author: Content Editor
Fantom (FTM) has seen a significant price increase of almost 15% in the last day, making it one of the most observed Layer 1 assets. Analysts believe there may be an opportunity for investors to enter the market at the $0.40 level before a potential price rally. The Fantom community remains bullish on the asset's future, particularly with its transition to Sonic, which will improve scalability and user experience. The increased trading volume and rising market capitalization indicate growing confidence in FTM. The price has steadily increased and is currently trading around $0.63, with key moving averages providing support levels. However, with the relative strength index (RSI) in overbought territory, a short-term correction or consolidation may be on the horizon.
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