As the overall cryptocurrency market recovers, Fantom (FTM) has also embarked on a journey of recovery and its recent performance is remarkable. At present, the trading price of FTM is approaching the psychological barrier of $0.5, and the market is full of curiosity and expectation on whether it can further break through to $0.76 with this momentum.
In the past 24 hours, FTM has risen by an impressive 11%, with its price climbing to around $0.4905, and its market value has jumped to more than $1.367 billion, ranking 51st in the cryptocurrency market value ranking. This series of positive data has undoubtedly laid a solid foundation for the future development of FTM.
From the perspective of technical analysis, FTM's daily chart shows a potential breakout sign. Although a clear resistance trend line has long suppressed the price increase, at the same time, a solid support trend line has also formed below, forming a downward channel. However, the recent positive changes in the market seem to be gradually breaking this balance, and FTM is expected to break free and usher in a large-scale surge.
It is particularly noteworthy that FTM has shown strong momentum in its recent rise. Not only did it successfully hold the support of the 100-day EMA, it also achieved a strong reversal last weekend, with a rise of 31.02%. During this process, the emergence of the Three White Soldiers pattern has added confidence to FTM's rise, indicating that new bullish momentum is accumulating.
Well-known trader Crypto Rand also expressed his optimism about FTM on his social media. He pointed out that FTM has broken through the resistance of the local downward trend and set a new higher low. In addition, the upward trend of the stochastic RSI indicator further confirms the bullish outlook of FTM.
Currently, FTM is trading at around $0.4848 and is facing a test of the 23.60% Fibonacci retracement level, which is around $0.49. At the same time, it is also challenging the resistance of the 100-day EMA. Although the 20-day and 50-day EMAs are still in a bearish arrangement, the recent golden cross of MACD and the signal line provides strong technical support for FTM's breakthrough rise.
If FTM can successfully break through the $0.5 resistance level, then according to the guidance of the Fibonacci level, its next important target will be $0.6175 (38.20% level) and $0.7181 (50% level). Of course, while pursuing the rise, investors also need to pay attention to the risks in the downside. At present, the 50-day EMA at $0.43 and the psychological level of $0.40 are both important support levels.
In summary, FTM is standing at a critical crossroads. As the market continues to recover and technology continues to mature, it is expected to break through many obstacles and attack higher price targets. However, investment is always accompanied by risks and uncertainties, so investors should be cautious and rational when making decisions.
As a blogger who has been working in the cryptocurrency circle for many years, I am willing to share my experience and insights with you. In front of my fans, I will share my bull market strategy layout free of charge. I am just a free blogger. I need fans and you need reference.
#BTC走势分析 #FTM #美国大选如何影响加密产业？ #美联储何时降息？ #CPI数据
