Fantom Price Eyes To Hit $2 With A Breakout Rally Next Week?

During the recent crypto market volatility, the altcoin sector has seen a surge in activity. Top altcoins like Fantom have experienced an impressive ~80% increase over the past month, indicating a strong bullish trend.

Will Fantom be able to maintain its bullish momentum and reach the $2 mark by the end of the year? In this post, we will delve into the current market sentiments and potential price targets for the Fantom (FTM) cryptocurrency.

FTM Price Forms A Rising Channel Pattern!

Over the last 24 hours, the Fantom token has seen a 5.34% increase in its portfolio, with a trading volume of $404.112 million. Despite a slight 4.76% dip over the past week, this altcoin has surged by ~80% in the last 30 days and has a year-to-date return of 169.22%.

The Simple Moving Average (SMA) on the Fantom price chart supports a bullish outlook for the FTM crypto token over the long term.

The Relative Strength Index (RSI) has dropped sharply below the overbought range in the daily timeframe. However, the average trendline remains close to the overbought territory, indicating a mixed sentiment in the market for this altcoin.

How High Will FTM Price Go?

If the bullish sentiment continues to strengthen, Fantom’s price could retest the $1.40 resistance level in the near future. Sustaining a price above that level could pave the way for the altcoin to target $1.60.

On the other hand, a reversal in trend could see the FTM price revisiting the $1.20 support level. Furthermore, if bearish pressure takes over, the cryptocurrency may drop towards its lower support level of $1 this month.

To get more insights on questions like whether Fantom will reach $10, check out our Fantom price prediction. Don’t forget to subscribe to CoinPedia for the latest updates on cryptocurrency news!

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