The Fantom Price Prediction: Breaking Above Resistance
The current Fantom price prediction is set at $0.20 as the coin recently surged above the upper boundary of the channel and reached the resistance level of $0.20. Let’s take a closer look at the statistics and market trends to understand where Fantom may be headed.
Fantom Prediction Statistics Data:
- Current Fantom price: $0.20
- Fantom market cap: $571.5 million
- Fantom circulating supply: 2.8 billion
- Fantom total supply: 3.1 billion
- Fantom Coinmarketcap ranking: #62
FTM/USD Market Analysis:
FTM/USD is currently trading around $0.20, and if it manages to surpass the potential resistance at $0.21, the next target could be $0.22, where it may trade above the upper boundary of the channel. A successful push from there could send the price straight to around $0.23. However, if the current level fails to hold strong, Fantom (FTM) price could slip below the support level of $0.18.
Fantom Price Prediction: Is Fantom Ready for an Upside?
An analysis of the daily chart suggests that the Fantom bulls are returning into the market. If buyers can keep the Fantom price above the 9-day and 21-day moving averages, FTM/USD may cross above the channel and hit resistance levels of $0.24, $0.25, and $0.26 respectively. Any bullish movement above these key resistance levels could encourage further buying.
However, if there is a bearish movement below the moving averages, critical support levels at $0.15, $0.14, and $0.13 may come into play. Looking at the daily chart, it appears that Fantom may tend to follow an upward trend as the 9-day MA is expected to cross above the 21-day MA, indicating the potential for additional bullish trends.
FTM/BTC Trades Above Moving Averages:
In terms of trading against Bitcoin, the Fantom price may cross above the upper boundary of the channel and hit the resistance level of 700 SAT. Unless this resistance effectively holds and the price closes above it, there might not be any reason to expect a bearish movement.
If a bearish continuation does occur, Fantom could reach lows under 600 SAT. In this case, a major support level can be found at 550 SAT and below. On the other hand, if Fantom crosses and stays above the channel, it could touch a potential resistance level at 750 SAT and above.
Alternatives to Fantom:
Currently, the Fantom price is showing positive momentum as it trades at $0.20. This is supported by a bullish crossover above the 9-day and 21-day moving averages. In its next move, Fantom is likely to break above the upper boundary of the channel but may face increased resistance in its upward trajectory.
In the meantime, another project called $BTCMTX has been created to provide the community with a token that connects them and helps them achieve wealth. The ongoing presale has already raised over $2 million, so interested investors are advised to act quickly.
Hot Take: The Future Looks Bright for Fantom
Fantom’s recent surge above the upper boundary of the channel and its ability to hold above key support levels indicate a positive outlook for the coin. With the potential to break through resistance levels and the support of a growing community, Fantom may continue its upward trend. However, it’s important to closely monitor market movements and key levels to make informed investment decisions.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.