Fantom (FTM) has just experienced a 15% price surge in the past 24 hours, setting a new high after the breakout! 🚀 Many analysts and investors are bullish, targeting FTM price to reach $3.00, which is more than 100% above the current level. 📈
This surge was driven by high trading volume, which increased by more than 150% in a day, indicating strong market interest and aggressive buying behavior. 🔥 FTM's market cap also increased by about 5.50%, reaching around $3.83 billion.
From the technical analysis, FTM's chart shows high volatility, as seen from the Bollinger Bands which show that the price has broken through the upper limit before returning to the middle line. 📊 Although the Volume Oscillator is currently negative (-4.88%), indicating potential consolidation after the price surge, the low volume during selling indicates that there are not many active sellers. If trading volume increases again, this could be a positive signal for FTM. ADX (Average Directional Index) is currently at 28.73, indicating a strong directional trend. However, a downward shift in ADX could signal a decline in momentum, which is often a sign of a bearish correction. ⚠️
Overall, while FTM shows potential to continue rising, it is important to monitor technical indicators and market sentiment to understand whether this surge can be sustained. Do you believe FTM can reach its $3 target? 💭