With a $1 Breakout, Can Fantom (FTM) Price Reach $1.66?
The FTM price has increased nearly 35% over the past 7 days and has reached a market cap of $2.7 billion.
Currently, the Fantom price is heading to reclaim the $1 psychological mark as the underlying bullish sentiments are on the rise. Will this $1 breakout result in a parabolic price surge in the FTM price trend? Let's find out in Coinpedia's latest Fantom price analysis.
In the daily chart, the $FTM price action showcases a streak of four consecutive bullish candles. The streak started from the 100-day EMA near the $0.64 mark and peaked at the $1 psychological mark. This accounts for a 56.49% price surge in just four days.
Currently, the 52-week high stands at $1.2291, revealing an upside chance of nearly 30%. The Fibonacci levels paint an optimistic target at $1.3748, followed by the $1.66 resistance level.
Now the token is trading around $0.9567 increase +6.06% in last 24H.
If the FTM price fails to sustain above the $0.96 mark, the downfall could retest the broken resistance trendline near the $0.85 level.
source: coinmarketcap. com