Fantom (FTM) Could Rise by Over 250%, Crypto Experts Believe

This comes after strong chart patterns and the announcement of the Sonic upgrade. As a result, many think these changes could bring more users and

Crypto experts are buzzing about the potential for massive gains in the price of Fantom (FTM). Several key factors are contributing to the optimism surrounding the token, including strong chart patterns, the upcoming Sonic upgrade, and increasing interest from both retail and institutional investors.

Key Points:

- Fantom (FTM) is attracting attention from crypto experts who predict substantial price increases.

- A bullish chart pattern, known as a falling wedge breakout, could lead to a 256% rally, according to one expert.

- Another expert predicts a 400-500% gain, reaching $4.16, due to FTM breaking a crucial resistance.

- Whale activity in FTM has surged by 540% in a single day, indicating strong institutional interest.

- Positive social discussions around FTM are rising, further boosting trader confidence in the token.

- The highly anticipated Sonic upgrade will rename the network Sonic Chain and introduce faster, cheaper transactions.

- A new token, called S, will replace FTM and be used for fees, staking, and governance on the new chain.

- Major exchanges, such as Binance, are supporting the upgrade and will fully switch to S tokens by January 13, 2025.

- Technical charts, despite a 40% price drop this month, suggest a rebound is likely, with key levels at $1 and $1.44.

Breaking Down the Details: Prominent crypto analyst on X, going by the handle CryptoBoss, has a keen eye on Fantom's price movements. According to his analysis, FTM has broken out of a bullish technical pattern called a falling wedge. This pattern is widely recognized by technical analysts as a sign of an impending price increase.

CryptoBoss is not alone in his optimism. Another well-known crypto enthusiast, Clifton Fx, has an even bolder prediction for FTM. He anticipates a remarkable 400-500% growth, which would propel the token's price to $4.16. This bullish outlook stems from FTM successfully breaking a critical resistance line that had hindered its growth for nearly four years.

As we delve deeper into the market activity surrounding FTM, we uncover a strong interest from whale investors. These large-scale traders are making significant purchases of the token, and their actions are closely monitored by many in the crypto space. According to available data, whale activity in FTM surged by an impressive 540% in a single day, rising from $1.74 million to $11.1 million. This substantial increase in whale interest bodes well for FTM's future price performance.

Another interesting aspect to consider is the increasing positivity among traders towards FTM. Social data reveals a growing enthusiasm and optimism around the token, which is further boosting trader confidence in FTM. This positive sentiment is likely to have a beneficial impact on the token's value.

Shifting our focus to the upcoming Sonic upgrade, we gain a better understanding of its significance for Fantom. This highly anticipated update will see the network rebrand to Sonic Chain, a move that aligns with the goal of making transactions faster and cheaper on the new chain.

Furthermore, Sonic Labs will be launching a new token called S, which will replace FTM. Notably, FTM holders will be able to exchange their tokens for S tokens at a 1:1 ratio. The S token will be utilized for paying fees, participating in staking activities, and engaging in governance on the new network.

The integration of S tokens into the ecosystem is receiving widespread support from major centralized crypto exchanges. For instance, Binance has already announced that it will fully switch to S tokens on January 13, 2025, at which point FTM tokens will no longer be traded on the exchange. Other platforms, such as Crypto.com, are also preparing for this transition.

As we approach the end of the year, it's worth noting that despite a 40% price drop for FTM in the past month, technical charts are hinting at a potential rebound. The MACD, an indicator that tracks momentum, is signaling a possible price rise. Additionally, the Average Directional Line (ADL) is indicating a high probability of a price reversal.

According to experts, if FTM manages to break through the crucial $1 level, it could set the stage for a rally to $1.44 or even higher in the following weeks. This would be an exciting development for investors who have been closely following Fantom's journey.