CandleFocus

Fantom Surpasses $1 Mark: Will FTM Price Rally Reach $1.74?

Author: Content Editor
In the crypto market, Fantom (FTM) has surpassed the $1 mark, making it one of the best-performing cryptocurrencies. It has seen a 10.92% surge in the past 24 hours and its gains over the past seven days have increased to nearly 60%. With a market cap crossing $3 billion, Fantom is showing potential for a parabolic recovery and there is speculation of a possible 50% surge. The FTM price trend reveals a rounding bottom reversal on the weekly chart, with the price challenging the neckline stage. Technical indicators suggest that Fantom's bull run is likely to continue, and the network is also experiencing positive growth with an increasing number of unique addresses and a rising total value locked. Based on Fibonacci levels, a weekly close above the neckline could trigger a significant surge, with an immediate resistance level at $1.7457 offering a potential upside of 60%. However, the $0.7387 level will remain a crucial support level for Fantom.

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