- Fantom is now listed on top of the gainers list.
- FTM trades at 0.4614, marking a 16% rally over the last 24 hours.
- The daily relative strength index (RSI) stands at 61.84 in the neutral zone.
Despite the market correction, Fantom (FTM) appeared as a standout performer, topping the gainers list with a 16% rally over the past 24 hours. Whereas, the largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have spiked moderately, not to extend losses.
The token opened the day at $0.4473 and eventually led to breaking the nearby resistance at $0.4521. During this timeframe, FTM climbed to a high of $0.4689. Besides, the token’s daily trading volume has increased by over 114%, standing at approximately $200 million, and the asset’s market cap stays at $1.29 billion. At the time of writing, the asset was trading at $0.4614, according to CMC data.
After trading under bearish momentum, the Fantom token has successfully regained its bullish outlook above its crucial support. Over the past month, the asset was trading downside, declining by 11.85%. The asset has dropped from a high of $0.509 to a low of $0.2743.
Will Fantom Price Sustain?
Fantom has shown considerable price momentum in the last seven days, with a 28.80% increase. The token was trading at $0.3601 at the beginning of the week. In the following days, the price maintained the bullish momentum, climbing from a low of $0.3598 to a high of $0.4685.
If Fantom manages to rise further and break above the $0.4700 level, it will likely test the nearby resistance soon at 0.4839. However, if the price declines back below the $0.4590 mark, the altcoin will find its initial support at the $0.4370 level.
Notably, the current price momentum of Fantom stays in the neutral sentiment, as indicated by the RSI standing at 61.84. It may take the asset’s price up, gradually. Besides, the upward trend is highlighted by the short-term 9-day MA and long-term 21-day MA at $0.4021 and $0,3665, respectively, found below the current price.
According to the Fantom price prediction, thenewscrypto analysts foresee the bullish FTM price for 2024 at $1.0271. Conversely, if the bearish sentiment emerged, the price might fall to $0.1770.
Disclaimer: The opinion expressed here is solely the author’s. It does not represent investment advice. TheNewsCrypto team encourages everyone to do their own research before investing.
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