Fantom price prediction suggests that the positive momentum in FTM may continue and bulls will lead the rally. FTM price is in an uptrend and buyers are continuing to dominate on the higher levels.
In the last few weeks, the Fanton token had performed well and displayed a surprising rally. The buying volume also increased and the price also followed the same direction. It indicates the participation of the big and genuine investors who are expecting an outperformance.
Any short-term retracement is getting bought up denotes buyers are waiting for dips to accumulate more. The EMAs displayed a golden crossover, which further boosted the confidence of investors and fueled the momentum.
The chart pattern of this crypto is bullish and no signs of weakness are visible. So, it is better to play long and stay with the trend.
FTM price recovered the majority of the losses came in 2023 and is slowly continuing the recovery. In the coming few months this crypto might break the $0.5000 barrier and hit new swing highs.
Fantom crypto price is trading at $0.4456 with a one-day decline of -0.47%. The volume to market recorded is 16.72%.
Will Fantom Price Perform Well in January 2024?
Fantom price prediction says this crypto might outperform in 2024 and may generate better returns as compared to other altcoins. The positive momentum is intact and buyers are continuously pushing the price upward.
On the higher side, $0.5490 may act as an immediate hurdle for the bulls. If buyers succeed in breaking this hurdle, it will increase the possibility of hitting new highs.
The analysis suggests FTM crypto is inside the bulls’ grip and upward momentum may continue in January 2024.
FTM Price Showed a V-shape Recovery
FTM price showed a V-shape recovery in the weekly time frame chart. It indicates that this crypto is bullish on the multiple time frame charts, which is beneficial for investors and short-term traders.
The MACD curve slopes upward and the histogram is forming higher high green bars, indicating bulls are strengthening their grip. The RSI at 65 also denotes the same and the supertrend, suggesting as long as the price holds $0.3325, the trend will remain upward.
Conclusion
Fantom price prediction says the rally in FTM has begun and it may perform well in the upcoming bull run. The analysis suggests this token is inside the bulls’ grip and it’s better to play long and generate nominal returns.
Technical levels
- Resistance levels: $0.5490 and $0.6500
- Support levels: $0.3500 and $0.2917
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2023/12/21/the-fantom-token-price-surged-12-is-more-upside-pending/