Fantom surges to $1.20, a new star in the upcoming bull market rises again!
Fantom (FTM) price skyrocketed by 40%! Is this a signal for a restart, or just a temporary rebound?
In the past week, Fantom (FTM) tokens have experienced an astonishing 40% increase, reaching a new high in 8 months and once again becoming the focus of the market. Investors are closely monitoring whether this surge can continue to break through, aiming directly at $1.20?
FTM's strong pullback: The $1 mark becomes a key battleground again!
Around the $1 mark, FTM encountered a strong bearish pullback, recently declining by 1.26%, with a 24-hour trading volume reaching $896 million. Nevertheless, since the beginning of 2024, FTM has still increased by more than 100%, doubling many investors' accounts.
Technical indicators strengthen, short-term bullish sentiment is strong!
The RSI indicator has broken into the overbought zone on the daily level, but its average trend line still shows positive growth, indicating a significant opportunity for a bullish reversal. The 50-day EMA support shows strong upward momentum, and the 200-day EMA continues to rise, providing strong technical support, showing a positive outlook for altcoins.
Future trend of FTM: Can it break through $1.20?
If the bull market restarts, FTM is likely to retest the $1 mark and stabilize the breakthrough, then迎接 the next target——$1.20. This will be a key turning point for entering a new high in 2024.
However, if bearish sentiment prevails, FTM may retrace to the support level of $0.84, or even $0.68, which is a key support range during a bear market reversal.
Fantom's current trend is like a vibrant 'recovery signal', but the market is still full of uncertainty. If the bull market continues, this surge could be promising; if bearish sentiment spreads, it may face volatility risk again. Follow us to stay updated on FTM's short-term direction and seize market opportunities!
