Breaking News: Fantom Price is surging
cryptoticker.io 16 September 2024 10:51, UTC Fantom’s price is on the rise, gaining nearly 6% in just one day and climbing more than 10% over the past few sessions. This sudden surge has caught the attention of investors and traders, as Fantom continues to show strong momentum in the crypto market. Let’s explore what’s driving this upward trend and what it could mean for Fantom moving forward in this Fantom Price prediction article.
How has the Fantom (FTM) Price Moved Recently?
Fantom is currently priced at $0.512702, with a 24-hour trading volume of $809.83 million, a market capitalization of $1.44 billion, and a market dominance of 0.07%. Over the past 24 hours, the FTM price has risen by 6%.
Fantom hit its all-time high of $3.47 on October 28, 2021, while its lowest point was recorded on March 13, 2020, at just $0.001762. Since its peak, the lowest price Fantom has reached is $0.164761 (cycle low), with the highest rebound being $1.21957 (cycle high). The current sentiment around Fantom’s price prediction is bullish, and the Fear & Greed Index is at 39, indicating fear in the market. The circulating supply of Fantom is 2.80 billion FTM, with a maximum supply of 3.18 billion FTM.
Why is Fantom Price Up?
Fantom’s price is rising due to strong market momentum, evidenced by consecutive green candles and the absence of significant pullbacks. This bullish behavior indicates that buyers are confidently driving the price higher, with no major resistance at current levels.
If Fantom can break through its recent highs, it may aim for the $0.60–$0.65 range, which represents a potential 30% increase from its current value. Historically, in bullish phases, assets like FTM tend to experience quick price advances with only brief pauses in between, suggesting further upside potential if the trend continues.
Looking ahead, Fantom’s upward movement is likely fueled by a combination of positive sentiment, increased trading volume, and a broader market recovery. If external factors such as overall market conditions and investor confidence remain favorable, Fantom could see sustained growth.
However, the key will be whether it can maintain this momentum and break through key resistance levels without prolonged pullbacks. Should it succeed, the price target of $0.60–$0.65 may be within reach, setting the stage for further gains in the near term.
How High Can the Fantom (FTM) Price Go?
Fantom (FTM) has shown impressive growth, with its price increasing by 164% over the past year, outperforming 79% of the top 100 crypto assets and even surpassing the gains made by Bitcoin and Ethereum. Trading above the 200-day simple moving average, Fantom’s technical outlook is bullish, suggesting a strong upward trend that could continue.
The fact that it has had 17 green days in the last 30 days (57%) reinforces this positive momentum. Additionally, Fantom has high liquidity relative to its market cap, indicating that there’s sufficient market interest and investor activity to support further price increases.
Looking at how high Fantom’s price could go, its performance has been remarkable compared to its token sale price. Although it’s still down 85% from its all-time high of $3.47, the steady rise and current momentum suggest that a recovery is well underway.
If FTM maintains its upward trajectory, the next price target could be between $0.60 and $0.65, representing a potential 30% gain from current levels. Beyond that, if Fantom continues to outperform major crypto assets and maintain its positive trend, it could challenge the $1.00 mark in the longer term, especially if the broader market enters a sustained bullish phase. However, breaking past key resistance levels will be crucial for Fantom’s ability to reach these higher targets.
