Fantom price volatility has been increasing since the beginning of the fourth quarter of 2024.
Over the last 24 hours, there has been a significant 26% surge in the FTM token price, indicating a strong bullish reversal from the $0.64 level.
The price action has shown a breakneck bullish reversal, breaking above the resistance trendline, which marks the conclusion of the pullback phase.
Following a recent rebound, the price has confirmed a triple-bottom formation above the support zone ranging between $0.56 and $0.62. This breakout led to surpassing the local resistance at $0.75.
According to the trend-based Fibonacci levels, the FTM price reversal rally is currently challenging the 23.60% Fibonacci retracement level, positioned at $0.8200.
According to Coin Gabbar analysis, If momentum continues, #Fantom may hit $1 by month-end. In a bullish scenario, it could extend to $1.85.
KEY LEVELS :
RESISTANCE LEVEL : $1.2500-$2.0000
SUPPORT LEVEL : $0.5500-$0.3500
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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