Fantom Price Prediction: Will FTM Price Reach $1.00 by 2023-end?

Fantom price prediction remains bullish but the price got stuck in a narrow range.
FTM price succeeded in sustaining above the 50 and 200 day EMA.
Fantom crypto price $0.3000 level and 50% approx from recent low.

Fantom price prediction is highly bullish for the long term but it might spend some time in trading sideways before gaining momentum. FTM price has recovered about 50% from the recent low swing at $0.3000 and formed a bullish reversal pattern.

Fantom crypto price has also managed to climb above the 50 and 200 day EMA, wherein the positional trend is reversed in the upward direction. However, the FTM price had witnessed minor profit booking from the previous supply zone and seems to be getting stuck in a range.

Fantom price is trading at $0.4551 with an intraday decline of -0.72% and 24 hour volume to market cap ratio stands at 0.2704. The FTM/BTC pair is trading at 0.00001580 with an intraday decline of -2.23%, which shows divergence between the direction of both the pairs. FTM price entered into the overbought zone in February and hit a high at $0.6560 and also displayed a golden EMA crossover.

Later, FTM price retraced downward and began to decline by forming lower low candles. It found support at the 50 day EMA and tried to bounce back with a strong momentum, but FTM price was unable to reach its previous highs. As such, $0.6560 will act as an important resistance for the bullish traders.

Will Fantom Price Retest the Previous High Swing?

Fantom price corrected about 20% in February and dropped below the monthly lows. FTM price had also slipped below the 200 day EMA, which invited further decline. However, the global market sentiment improved in mid-March and FTM price saw a decent recovery from its demand zone at $0.3000.

Technical analysis suggests FTM price has recovered well and buyers seem to be returning back to the track. The probability of retesting the previous high remains in favor of the bulls. But, the price will gain momentum only when the bulls break out of the $0.5338 level.

FTM Price Turned Bullish in Weekly Chart

FTM price is forming a bullish hammer candle pattern on the weekly time frame. It shows responsive buyers are highly active on the lower levels and more upward momentum is possible in the coming weeks. Technical indicators like MACD have generated a positive crossover, but the curve sloping sideways indicates consolidation. The RSI at 51 denotes neutral territory and equal level of tug of war between bullish and bearish positions.

Conclusion

Fantom price prediction favors the bulls and suggests a rise in the long term. However, FTM price is expected to consolidate for some time in the range mentioned in the chart. Technical analysis shows that Fantom crypto price is on the uptrend and might reach $1.00 by 2023-end.

Technical levels

Resistance levels : $0.5338 and $0.6560

Support levels : $0.3000 and $0.2000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing