|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Fantom (FTM) Price Prediction: Ready to Fly in Q4 2024?
Sep 18, 2024 at 06:32 am
In Q4 2023, the Fantom (FTM) price started gaining bullish momentum and recovered from the strong consolidation phase.
As Q4 2023 progressed, the price of Fantom (FTM) began gathering bullish steam, emerging from a period of strong consolidation. It enjoyed a remarkable surge of over 500% till the last week of March, when the bullish trend encountered resistance near the $1.20 mark.
March’s last week brought a shift in momentum towards sellers, as evidenced by massive profit bookings. The FTM price declined through a descending channel, losing around 55%. Near the $0.3500 hurdle, however, the selling pressure seemed to be exhausted, setting the stage for a reversal.
Analyst Pinpoints $0.460 as the Sweet Spot
According to Johnny (@CryptoGodJohn), a cryptocurrency analyst, the FTM price might experience a surge once it sweeps up the liquidity below the $0.460 mark. The Sonic Upgrade has generated significant hype which could play a key role in driving bullish momentum.
If we get the sweep and reclaim, I’m interested in $FTM longs.
Sonic upgrade catching hype — I think if we see alts rally into Q4 / October, fantom will be a top performer. pic.twitter.com/eBgkcx1rrn
Should this scenario unfold, FTM crypto could emerge as the top performer of Q4 2024.
Is FTM Price Primed to Soar?
Alex Clay (@cryptclay) shared in a tweet that the FTM price chart is displaying an awesome bullish structure, with the potential for a strong move. On a weekly time frame, the price has formed a double bottom pattern followed by a correction phase. During this correction, the Fantom crypto price formed a Bullish Flag pattern in the shadow of key moving averages.
#FTM/USDT Mid-Term
Awesome bullish structure on $FTM 🐃
Double Bottom accumulation, then we got a correction due to the market and formed a Bullish Flag just under the resistance confluence of mid-zone + ema 50 + ema 100 + ema 200🧐
Breakout is imminent imo🚀
short-term… pic.twitter.com/X1EcmDZMSX
Following the successful breakout, the FTM crypto is expected to achieve its short-term target of $1.23. It may go for the $1.77, $2.70, and $3.36 in the mid-term.
Technical Analysis of Fantom Price Over 1-D Time Frame
At the time of writing, the Fantom crypto was trading at $0.562, up 8.06% in the past 24 hours. The market capitalization was $1.49 Billion and the 24-hour trading volume was $268.89 Million.
The FTM price has formed a bullish flag on a daily time frame and has triggered a breakout. During the breakout, the Fantom price breached the 200-day EMA, and trading volume increased by 28%.
If the FTM price manages to stay away from the channel, it could invite buyers which may trigger bullish momentum. The price may extend to the psychological level of $1 in a single spike. Breaching this mark may invite investors and could perform positively for the next few months.
On the other hand, if the digital asset price forms a negative candlestick and slips below the 200-day EMA, buyers might panic. If the price re-enters the channel, it could be a fakeout and sharp selling can be seen further.
Technical Analysis
The charts indicate a potential for bullish momentum. Analysts are predicting a positive outlook for the FTM crypto, with potential short-term targets of $1.23 and mid-term targets of $1.77, $2.70, and $3.36.
Technical analysis also suggests the possibility of a bullish breakout, especially if the price manages to stay away from the channel and breaches the psychological level of $1.
However, it’s crucial to monitor the price movement closely and consider risks, such as a fakeout if the price re-enters the channel.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Polymarket Seeks $50M Boost as Election Betting Hits Record
- Sep 25, 2024 at 04:45 am
- Polymarket, the top decentralized prediction platform, is capitalizing on a massive surge in 2024 U.S. election betting.
-
- Vintage Bitcoin Whale Sends 5 BTC to Kraken After Years of Inactivity
- Sep 25, 2024 at 04:25 am
- An early bitcoin whale has made waves in the crypto world, according to the onchain analytics platform Arkham Intelligence.
-
- Babylon and Fractal Bitcoin: Exploring the Expanding World of BTCFi
- Sep 25, 2024 at 04:25 am
- While Bitcoin is solidifying its position in mainstream finance, opportunities for growth in Bitcoin-based decentralized finance (BTCFi) products are also expanding.
-
- Meta AI Bags Hollywood Voices to One-Up OpenAI After ChatGPT Mimicked Scarlett Johansson's Voice
- Sep 25, 2024 at 04:25 am
- Meta is set to announce that it has hired some of Hollywood's most high-profile actors to voice its Meta AI chatbot.
-
- Dogecoin Price Prediction: Trader Unveils Parabolic Rally Target, Eyes New All-Time High
- Sep 25, 2024 at 04:15 am
- Expectations for the Dogecoin price remain high as a crypto analyst has predicted a rally to a new all-time high for the meme coin.
-
- Mega Dice ($DICE) Token to Launch on Exchanges in 5 Days, This Analyst Predicts It Can 100x
- Sep 25, 2024 at 04:15 am
- Mega Dice token ($DICE) will be launched on the open market in five days. With $1.8 million raised at presale, the upcoming exchange launch is widely anticipated.
-
- DeFi Protocol Cega Debuts 'Vault Token Market' to Facilitate Seamless Investing
- Sep 25, 2024 at 04:15 am
- The offering solves the liquidity issues faced by investors due to the 27-day deposit lock-up period.
-
- Dogecoin, BNB, and BlockDAG Gear Up for Pivotal Developments as the Market Anticipates Significant Shifts
- Sep 25, 2024 at 04:15 am
- The coming months are set to be pivotal for investors watching Dogecoin, BNB, and BlockDAG, as each cryptocurrency gears up for significant developments.
-
- LOKA Price Surges 20% After Binance Perpetual Contract Listing
- Sep 25, 2024 at 04:15 am
- Binance, the major cryptocurrency exchange, declared on September 24 that the LOKAUSDT perpetual contract will be launched today at 11:30 UTC.