$FTM targets $3.0053, with potential to reach $5.7906 if bullish momentum continues.
Recent breakout signals sustained growth, potentially surging 102% and beyond.
Hidden bullish divergence suggests continued strength, with a possible 522% price increase.
Fantom ($FTM) has seen price movement, setting new post-breakout highs and drawing attention from traders and analysts. With a bullish trend developing, $FTM's potential for further growth is under scrutiny.
The current target for the cryptocurrency stands at $3.0053, and if this level is surpassed, according to technical analysis, $FTM could continue its climb toward even higher price levels, reaching as much as $5.7906.
The recent breakout in $FTM’s price action marks a key turning point for the token. The asset has surged after consolidation between 2022 and mid-2023, with a substantial price rally leading into 2024.
https://twitter.com/JavonTM1/status/1868456643194675211
Moreover, the momentum indicator beneath the price chart supports this bullish outlook. Its values were higher during the current rally compared to previous periods, signaling an increase in market interest and buying pressure.
Looking ahead, $FTM could see another major surge in price, potentially rising by more than 102% to reach the $3.0053 target. If $FTM maintains its upward momentum and breaks above this level, the cryptocurrency could have room for further gains.
A sustained move above $3.0053 could open the door to another significant increase, potentially bringing the asset to around $5.7906, marking a further 90% jump in value.
Strong Momentum After Recent Bullish Patterns
The recent breakout follows a series of bullish patterns for FTM, contributing to its current surge. The cryptocurrency has shown signs of a larger, ongoing breakout phase, which could increase the price to 206% if the current bullish trend continues.
With this momentum, $FTM has the potential to surpass its $3.0053 target and enter a new phase of growth. This period of sustained bullish action might mirror past performance, where the cryptocurrency saw massive price surges, including a previous 414% climb.
Hidden Bullish Divergence Confirms Further Potential
Adding to the optimism surrounding $FTM is the confirmation of a hidden bullish divergence. This technical pattern typically signals continued price strength, as it reflects a period of accumulation before a major move upward.
The cryptocurrency has previously experienced similar setups, with the most notable being the 414% rally after the last hidden bullish divergence. As $FTM holds this key pattern, analysts are predicting further price gains, with a potential for a 522% increase to meet the $3.0053 target.
