Fantom [FTM] Short-term target: $1.47 and above
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FTM has risen by 11.68% in the past 24 hours, breaking through the descending triangle pattern, indicating a potential upward trend. The short-term target may reach $1.47, with an expected increase of 73.28%.
Technical Analysis and Market Trends
Breakthrough and Key Resistance
FTM successfully broke through the descending channel and is facing key resistance levels. If the current bullish momentum continues, the price is expected to rise from $0.85 to $1.47.
Retail Driven and Whale Watching
Active addresses increased by 17.86%, indicating active retail trading.
Whale trading volume has decreased, with fewer large transactions currently; if whales return, it may drive prices further up.
On-chain Indicators and Market Sentiment
Technical Indicator: Golden Cross
The MACD golden cross indicates that buying momentum is strengthening, which may push prices up.
Funding rates and long-short ratios both show strong bullish sentiment, supporting further increases.
Potential for Whale Return
The market is currently dominated by retail investors; once whales return, it may bring more buying pressure and further push prices up.
Summary and Outlook
FTM shows strong short-term upward potential; if it breaks through key resistance levels, it may reach $1.47. Investors should pay attention to changes in market sentiment and whale activity, as these factors may affect the upward trend.
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