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Analysts Say FTM's Price Could Rise Over 250% After Transition to Sonic
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The turmoil in the cryptocurrency market has given Fantom (FTM) strong upward expectations. With support from technical and on-chain indicators, Fantom's price may undergo a strong rally, potentially skyrocketing by 250% or more in the short term. Here are the specific analyses and predictions:
1. Technical Analysis
Downward Wedge Breakout: Fantom has broken out of a downward wedge pattern on its 4-hour chart, a common bullish reversal pattern in technical analysis. Analyst CryptoBoss observed this breakout and predicts that FTM could rise by 256% in the short term, targeting a price level around $2.
MACD Bullish Signal: On the 1-day FTM/USDT chart, the MACD (Moving Average Convergence Divergence) shows bullish reversal signals. The blue MACD line is about to cross the orange signal line, which is typically a sign of the market transitioning from bearish to bullish.
Average Directional Index (ADX): An ADX value of 26.8 indicates a higher likelihood of a trend reversal, suggesting an imminent upward momentum.
2. Target Price and Potential
Mid-term Target: $1: If Fantom successfully breaks through the psychological resistance level of $1, it may continue to rise, with a target price potentially reaching last year's high of $1.44.
Long-term Target: $2 to $4.16: Anonymous analyst Clifton Fx predicts that based on Fantom's strong technicals and market support, FTM could rebound to $4.16 in the coming weeks, with an increase of up to 400% - 500%.
3. Sonic Upgrade and New Market Opportunities
Sonic Chain Upgrade: Fantom's network is set to undergo an upgrade, transitioning the existing Fantom Opera Network to Sonic Chain. This upgrade aims to improve transaction speed and scalability while reducing transaction fees, which could attract more developers and users, driving the price up.
S Token Issuance: As part of the upgrade, Sonic Labs will launch S tokens, allowing Fantom holders to convert existing FTM tokens to S tokens at a 1:1 ratio. Major cryptocurrency exchanges like Binance have announced support for this change.
Click the name live to chat in the live room
Click the name live to chat in the live room
The turmoil in the cryptocurrency market has given Fantom (FTM) strong upward expectations. With support from technical and on-chain indicators, Fantom's price may undergo a strong rally, potentially skyrocketing by 250% or more in the short term. Here are the specific analyses and predictions:
1. Technical Analysis
Downward Wedge Breakout: Fantom has broken out of a downward wedge pattern on its 4-hour chart, a common bullish reversal pattern in technical analysis. Analyst CryptoBoss observed this breakout and predicts that FTM could rise by 256% in the short term, targeting a price level around $2.
MACD Bullish Signal: On the 1-day FTM/USDT chart, the MACD (Moving Average Convergence Divergence) shows bullish reversal signals. The blue MACD line is about to cross the orange signal line, which is typically a sign of the market transitioning from bearish to bullish.
Average Directional Index (ADX): An ADX value of 26.8 indicates a higher likelihood of a trend reversal, suggesting an imminent upward momentum.
2. Target Price and Potential
Mid-term Target: $1: If Fantom successfully breaks through the psychological resistance level of $1, it may continue to rise, with a target price potentially reaching last year's high of $1.44.
Long-term Target: $2 to $4.16: Anonymous analyst Clifton Fx predicts that based on Fantom's strong technicals and market support, FTM could rebound to $4.16 in the coming weeks, with an increase of up to 400% - 500%.
3. Sonic Upgrade and New Market Opportunities
Sonic Chain Upgrade: Fantom's network is set to undergo an upgrade, transitioning the existing Fantom Opera Network to Sonic Chain. This upgrade aims to improve transaction speed and scalability while reducing transaction fees, which could attract more developers and users, driving the price up.
S Token Issuance: As part of the upgrade, Sonic Labs will launch S tokens, allowing Fantom holders to convert existing FTM tokens to S tokens at a 1:1 ratio. Major cryptocurrency exchanges like Binance have announced support for this change.
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Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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