Fantom (FTM) has experienced a 9% price surge in the last 24 hours, making it the top performer among the top 100 cryptocurrencies by market capitalization. This rally is not solely based on speculation but is supported by strong demand and increased trading volume. On-chain metrics and technical analysis suggest that FTM could see a further 13% price increase. The rise in price and demand is likely attributed to positive discussions surrounding Fantom's upcoming Sonic upgrade, set to launch in November, which will enhance the network's performance. The coin's rising Relative Strength Index (RSI) and positive Elder-Ray Index indicate ongoing demand and bullish momentum. If these trends continue, FTM's price could reach $0.63, a key resistance level, and potentially target the next resistance at $0.85. However, profit-taking activity could lead to a decline in price to $0.25, invalidating the bullish outlook.
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