Fantom Revival: Crypto Analyst Predicts A Jump To $1.2 For FTM Price

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	1,344,569,077	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

1,344,569,077

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.001	0.11%	0.902	0.901	0.902

Price Change

Price Change %

Current Price

Bid Price

Offer

0.001

0.11%

0.902

0.901

0.902

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.903	0.895	0.901	0.901	0.385000 - 1.70

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.903

0.895

0.901

0.385000 - 1.70

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	06:20:42	2.21	0.900	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

06:20:42

2.21

0.900

USD

Price x Volume	Volume	Base Symbol	Related Pairs
41,041.29	45,632.41	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

41,041.29

45,632.41

Fantom Revival: Crypto Analyst Predicts A Jump To $1.2 For FTM Price

04/05/2024 1:05am

NEWSBTC

Fantom (FTM) had initially reclaimed the $1 level back in March and expectations were that the coin would rise to $2. But that was before the market crash sent prices spiraling, and Fantom lost almost 50% of its value during this time. However, all hope is not lost of for the coin, as one crypto analyst expects a return of the bullish momentum as long as certain conditions are met. Fantom Searching For Support Crypto analyst MyCryptoParadise took to TradingView to share their analysis on the Fantom price and how it could see a recovery. After the price fell to $0.56, the altcoin began to look for support, which would serve as a bounce-off point, and the analyst revealed that the altcoin is actually getting closer to this support. Related Reading: Ripple Unlocks 1 Billion XRP From Escrow – How Will This Impact Price? For now, the support lies at $0.5679, which is the point that bulls need to hold to confirm a bullish breakout. Following a rejection at the $0.79 resistance, this point has become even more important to hold, as the FTM price searches for “renewed momentum.” “Should FTM successfully find support and bounce from this level, it could potentially form a double bottom pattern, with the neckline acting as resistance around the 0.798 mark,” the crypto analyst said, highlighting the importance of finding support. In the event of a breakout, the analyst expects at least a 100% move from here. The first major level to break it the $1 level, and then after that, the crypto analyst sees the price going as high as $1.2 as long as the trend is confirmed. Source: TradingView.com FTM Could Break Down Further On the flip side of this, the crypto analyst also identifies a scenario where the Fantom price could continue to break down. In the event that the altcoin is unable to find support above $0.56 and breaks through it instead, the bloodbath could continue. Related Reading: Crypto Analyst Says Bitcoin Must Hold Above $51,800 As ETF Outflows Trigger Crash The bearish continuation which the analyst sees in a situation like this will send the price below $0.5 eventually. The support for the FTM price then lies at the next Bullish OB area, which the crypto analyst identifies to be around $0.449. “💎 Reclaiming the support at 0.568 would be crucial for FTM to maintain its bullish momentum,” the analyst said. “Should FTM fail to bounce even after reaching the Bullish OB area, it would signal a bullish invalidation, indicating a continuation of the bearish trend.” Presently, the Fantom price is trending above support at $0.6641. However, it is down 3% in the last day with 10% losses in the last week. FTM price continues to recover | Source: FTMUSDT on Tradingview.com Featured image from Analytics Insight, chart from Tradingview.com

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