đđ„ Fantom explodes with an 8% increase: An opportunity not to be missed! đ„đ
Fantom ($FTM ) emerged this morning on August 16 as the undisputed leader of the crypto market with a spectacular surge of 8%, catapulting its price to $0.393. With a daily trading volume up 84%, reaching $274 million, FTM confirms its place in the top 70 largest cryptocurrencies with a market capitalization of $1.1 billion.
Since bottoming at $0.276 on August 5, during the crypto and stock market crash, FTM has rebounded 42%, returning to price levels last seen on March 21. However, the token still remains well below its all-time high of $3.46, recorded in October 2021. Currently, FTM is sailing just above the middle Bollinger band at $0.3691, well below the upper band at $0.4581, signaling bullish potential, but without the momentum to break through the key resistance.
Neutral indicators suggest a consolidation in FTM, awaiting a market catalyst. The RSI is stabilizing at 49.61, close to the neutral threshold of 50, reinforcing the idea of ââa consolidation phase. Although FTM is showing signs of recovery by holding above the middle Bollinger band, it lacks the strength to challenge the upper resistance. Bullish momentum could emerge with a possible test of the upper band, but caution is advised against a possible pullback.
The next few days will be crucial to determine whether FTM can turn this consolidation into an explosive breakout or whether it will experience a bearish reversal. Donât miss this opportunity that could well redefine FTMâs outlook in the coming weeks!
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