Fantom Price Maintains $0.70 Support, Eyes To Hit $1 This Month?

The post Fantom Price Maintains $0.70 Support, Eyes To Hit $1 This Month? appeared first on Coinpedia Fintech News

The Fantom price has dropped by 12.86% in the last 11 days, highlighting increased selling pressure for the altcoin in the crypto market. However, the bulls maintained the value above the $0.70 mark. This resulted in the altcoin experiencing a positive bounceback.

Will the crypto bulls maintain their optimistic sentiments, to help the FTM crypto price reclaim its $1 mark this month? In this article, we have covered the short-term market sentiment, price analysis, and possible short-term price targets of the Fantom (FTM) crypto token.

FTM Price Records Bullish Reversal!

The Fantom price has jumped over 3% in 24 hours with a trading volume of $228.57 million, a change of +4.89%. Notably, this altcoin has displayed a significant price action over the past few days, highlighting increased price action.

The Simple Moving Average (SMA) constantly acts as a resistance to the FTM price chart in the daily time frame. This suggests an increase in the selling-over-buying pressure in the crypto market.

On the other hand, the MACD indicator shows a constant decline in the red histogram. Further, its averages hint at a potential bullish convergence. This highlights a mixed price sentiment for the altcoin during the upcoming week.

Will FTM Price Hit $1?

If the bullish sentiment sustains, the Fantom coin price could retest its resistance level of $0.80. Maintaining the price above that level could set the stage for this altcoin to head toward its target price of $1 this month.

On the contrary, if the bears regain momentum, the FTM crypto price could record a bearish reversal. This could result in the price of Fantom plunging toward its crucial support trendline of $0.60.

To find out answers to questions like “Can FTM reach $50?” Read CoinPedia’s Fantom Price Prediction to uncover the potential mysteries until 2030!

FAQs