FTM/USD is trading above $0.38 as the coin floats above the 9-day and 21-day moving averages to reach the resistance level of $0.40. The Fantom price might continue to trend upward if the price successfully surpasses the closest resistance level of $0.45. Meanwhile, FTM/USD could hit the resistance level of $0.50 if the bulls concentrate on the upward trend.
Fantom Price Prediction: FTM/USD Is It Preparing for a Surge?
The Fantom price might surge to the positive side should the 9-day moving average cross above the 21-day moving average. However, the buyers may need to escalate the pressure to generate additional gains within the channel.
Nevertheless, once the ongoing market movement regains the resistance level of $0.40, there is a greater possibility that the coin might encounter the potential resistance levels at $0.55, $0.60, and $0.65. Conversely, if the coin declines and crosses below the lower boundary of the channel, it could push the coin to reach the crucial supports at $0.25, $0.20, and $0.15 respectively.
Against Bitcoin, the Fantom price appears to be moving sideways and it might generate additional gains if it crosses above the 9-day and 21-day moving averages. Nonetheless, if the ongoing bullish movement persists, the next resistance level may come into play, potentially causing FTM/BTC to encounter the key resistance at 1200 SAT and beyond.
On the downside, FTM/BTC could encounter support at 750 SAT if it falls below the lower boundary of the channel. Below this, the critical support level could also be identified at 520 SAT and below. Currently, the 9-day MA remains below the 21-day MA, but any spike above this barrier might intensify the bullish movement within the channel.
@SpiritualCrypt1 shared with his 5.3k followers on X (formerly Twitter) the opportunity to purchase #Fantom below $0.4, ahead of the hype and FOMO. Act now for the optimal timing. $FTM is poised for a 3x surge within 2 months, with a projected $2 valuation by the end of the year. Exciting developments with #FantomSonic on the horizon!
— Alpha-Wizz the king maker, gateway to #Crypto (@SpiritualCrypt1) February 8, 2024
It would be a strong medium-term bullish indicator, especially as the overall market structure remains bullish.
About Fantom (FTM)
Fantom is a high-performance blockchain platform that provides functionality for working with smart contracts and creating decentralized applications. FTM is the main token of the ecosystem, it is used to protect the network through staking, sending payments, paying transaction fees, and decentralized governance.