Fantom Price Analysis and Forecast: Can FTM Break Through Resistance?
Are you keeping an eye on Fantomโs price and wondering if it can break through the current resistance barrier? Letโs dive into the latest analysis and forecast to see where FTM might be headed in the coming days.
Fantom Finds Support
Currently trading at $0.76, Fantom is once again attempting to breach the resistance block ranging from $0.79 to $0.88. While it failed to do so last week after bouncing back from lows of $0.63, the lack of a solid recovery has left over 110 million FTM, valued at more than $82 million, in a state of uncertainty.
- This supply, purchased between $0.76 and $0.87, is eagerly waiting for profitability once the resistance block is overcome.
- The presence of whale addresses on the network has been pivotal in this effort, as these significant investors influence price action by maneuvering large token quantities.
FTM Price Prediction: Potential Upside
If the indicators continue to favor Fantomโs price, there is a strong possibility of breaking through the resistance block and establishing it as a support level. This precedent has been set before, and if FTM can achieve this, it may test $0.90 as support and potentially climb back to $1.00.
- With the increasing number of addresses holding significant amounts of FTM, between $100,000 and $1 million, the chances of Fantomโs recovery are becoming more promising.
Fantomโs Price Outlook
On the other hand, if Fantom fails to breach the lower boundary of the resistance range at $0.79, it could retract to $0.63, jeopardizing the bullish outlook and compromising the profitability of the current supply.
Hot Take: The Future of FTM
Stay tuned for more updates on Fantomโs price movement, as breaking through the resistance block could pave the way for new highs. Keep a close watch on the market trends and investor activity to gauge the potential upside of FTM in the near future!
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