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

The post Fantom Price Eyes To Hit $2 With A Breakout Rally Next Week? appeared first on Coinpedia Fintech News

Amid the ongoing crypto volatility, the altcoin market has gained significant traction over the past few days. Notably, top altcoins such as Fantom have surged ~80% over the 30 days, indicating a strong bullish outlook.

Will Fantom Price maintain its bullish price action and achieve the $2 mark this year? In this article, we have uncovered the short-term market sentiments and possible price targets of the Fantom (FTM) crypto token.

FTM Price Forms A Rising Channel Pattern!

The Fantom token has added 5.34% to its portfolio in 24 hours with a trading volume of $404.112 million. Despite recording a drop of 4.76% over the past week, this altcoin has surged ~80% in 30 days and has a YTD return of 169.22%.

The Simple Moving Average (SMA) supports the Fantom price chart in the longer time frame, suggesting a strong bullish price action for the FTM crypto token.

The Relative Strength Index (RSI) records a sharp decline below the overbought range in the daily time frame. However, the average trendline continues hovering around the overbought range. This highlights a mixed price sentiment for the altcoin in the crypto market.

How High Will FTM Price Go?

If the bullish sentiment intensifies, the Fantom price could retest its resistance level of $1.40 this weekend. Maintaining the price above that level could set the stage for this altcoin to head toward its upper price target of $1.60.

Conversely, if a trend reversal occurs, the FTM coin price could retest its support level of $1.20. Furthermore, if the bears gain dominance, this may result in this crypto token plunging toward its lower support level of $1 this month.

To find out answers to questions like, Will Fantom price hit $10? Read our Fantom price prediction. Also, subscribe to CoinPedia to stay updated on the latest cryptocurrency news!

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