Is it Too Late to Buy Fantom? Crypto Traders Give their FTM Price Predictions
Fantom accelerates into a sensational rally continuation after cracking key resistance at $0.50. But will it continue, and how high can FTM go?
After enduring a challenging period of crypto winter price consolidation throughout 2022, which saw Fantom trapped in a range between $0.16 and $0.44 for 8 months, January brought a bright start.
Despite analyst predictions, the Fantom bulls continued to drive the rally higher and higher.
Bollinger bands (volatility measure) tightening into Jan 2 set the stage for a steady rally.
And then price levels smashed across the floor, like a bull in a china shop as Fantom surged through past areas of support and resistance.
Emboldened by macro sentiment from Bitcoin and the US economy. Bulls have so far sustained a 200% gain throughout January.
Bulls have maintained their grip despite struggles at $0.35 and $0.40. Finally, cracking key resistance at $0.50 at the end of January.
February now marks a decisive breakout characterized by big bullish candles. FTM sits in pure price exploration mode, currently trading at $0.60 (+4.92% 24hr).
It seems there is slight hesitation at the psychological level of $0.60. This is a level with little historical resistance, and is likely to break as price action clings to the upper trend line.
With such a steep and strong bullish channel, it is predictable that the price will move to test the next level.
There is a probabilistic area of resistance to fight through at $0.65 (a gain of 11% from here). A rally through this level is likely to see a local top at $0.75 (25% from here).
Looking at our indicators illuminates more.
The RSI illustrates a mighty rally. Bulls moved the price in 3 main pushes that have each come close to overheating this signal.
But confidence in
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