Fantom Breaks $1: Will FTM Continue Its Bullish Trend Towards $1.50?

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Fantom [FTM] has surged by 23.13% in the past 24 hours, attracting attention, with its price rising to $1.07 at the time of writing.

This impressive growth is driven by increasing network adoption and positive on-chain metrics, raising the question: Is Fantom poised to lead a broader cryptocurrency market rebound in the coming weeks?

Fantom's chart shows a strong bullish structure, with the price breaking through the key $1.00 level, which now serves as strong support. The next resistance level is at $1.14, a key psychological and technical level.

Moreover, if momentum continues, FTM could test the resistance level of $1.50, and breaking through this resistance may confirm a sustained upward trend. However, traders should remain cautious of potential pullbacks, as the support level at $0.84 aligns with a long-term upward trend line.

Thus, maintaining the current momentum is crucial for Fantom to achieve these ambitious targets.

Network growth metrics indicate high user interest. In the past week, new addresses surged by 73.68%, while zero-balance accounts grew by 55.47%. As more users join the ecosystem, this indicates a high adoption rate.

Additionally, the increase in activity reflects growing confidence in FTM, directly supporting the continued rise in price. As adoption trends remain positive, they may drive the sustained growth of the token's value.

FTM's on-chain signals present an optimistic outlook. The net network growth rate is +0.54%, indicating steady expansion. However, the 'profit-taking' metric has dropped by -1.23%, suggesting that investors are slightly taking profits.

On the other hand, large transactions have risen by 0.50%, indicating that institutions and large trades continue to support the bullish trend. Therefore, while short-term cautious sentiment persists, the overall outlook remains optimistic.

Watch live to understand the bull market!!!