Introduction
Crypto experts believe Fantom (FTM) could rise by over 250%. Additionally, this comes after strong chart patterns and the announcement of the Sonic upgrade. As a result, many think these changes could bring more users and investments to Fantom’s network.
Why Is FTM Getting Attention?
Crypto analyst CryptoBoss, a popular figure on X, said Fantom broke out of a bullish pattern called a falling wedge. This pattern often signals that prices might rise. CryptoBoss predicts FTM could climb 256% and hit $2 soon. Another expert, Clifton Fx, has an even bolder prediction. He believes FTM might grow by 400-500%, reaching $4.16. This is because Fantom recently broke a long-term resistance line that had blocked its growth for nearly four years.
More Investors Are Getting Interested In FTM
Whale investors, who are big players in the market, are buying a lot of FTM. Data shows whale activity grew by 540% in one day, going from $1.74 million to $11.1 million. When whales buy, it often shows that they trust the market will grow.
Source: IntoTheBlock
Traders also feel more confident about Fantom. Social data shows that positive discussions around FTM have increased. This optimism could help boost the token’s value even more.
What Is the Sonic Upgrade?
The Sonic upgrade is a big step for Fantom. The network will change its name to Sonic Chain. This upgrade promises faster and cheaper transactions, making the network more appealing. Sonic Labs will also launch a new token called S. This token will replace FTM. People who own FTM can exchange it for S tokens at a 1:1 ratio. The S token will be used for fees, staking, and governance on the new network. Major crypto exchanges, including Binance, have already shown support for the upgrade. By January 13, 2025, Binance will stop trading FTM and fully switch to S tokens. Other platforms, like Crypto.com, are also preparing for the transition.
What Do the Charts Say?
Even though Fantom’s price is down 40% this month, technical charts suggest a rebound is coming. The MACD, a tool that tracks momentum, shows signals of a possible price rise. Another indicator, the Average Directional Line (ADL), shows strong chances for a price reversal. Experts believe the first goal is $1. If FTM breaks this level, it could climb to $1.44 or higher in the following weeks.
Source: TradingView VR Soldier Thought
Fantom is taking a bold step with the Sonic upgrade. Moreover, if it works as planned, it could make the network faster, cheaper, and more attractive to users. Consequently, this could bring in more investors and push the token’s value higher.However, it’s important to watch the market and see how the changes unfold. While the upgrade shows promise, investors should be careful and ready for any surprises.
The post FTM on Track for Major Price Rally first appeared on The VR Soldier.
