Despite recent challenges, Fantom （FTM） shows signs of a potential price increase, with bulls gaining ground over bears. Analysts predict a possible rise towards the $1 mark based on current market indicators.
Points
- FTM price down 13.04% in the last 30 days
- Bulls gaining ground over bears
- Current trading price at $0.50
- Bulls And Bears indicator shows more bulls than bears
- Potential price targets at $0.56, $0.66, and $0.99
Fantom （FTM）, the token of the scalable blockchain for decentralized applications, has faced significant price challenges, dropping 13.04% in the last 30 days. However, recent on-chain data suggests that the end is not near for FTM. Instead, the cryptocurrency might encounter relief that could take it to a significant price level.
At press time, FTM is trading at $0.50. The Bulls And Bears indicator, which measures the trading volume involved in buying and selling, shows that there are more bulls than bears, indicating a potential upward trend. Specifically, there are four more bulls than bears, suggesting that buying activity might soon outweigh selling pressure.
The Global In/Out of Money （GIOM） indicator also reinforces this forecast. The GIOM classifies addresses by their profitability, identifying those in profit, loss, and at breakeven points. According to the GIOM data, a significant number of addresses bought FTM at around $0.32, providing strong support at this level. Conversely, addresses that bought at higher prices may act as resistance if they decide to sell when FTM’s price increases.
If bulls continue to outpace bears and maintain upward momentum, FTM’s price could potentially rise to $0.56, $0.66, and even $0.99, where the price of 61.8% Fibonacci retracement lies. Trading above the 23.6% Fibonacci level indicates that the token has a good chance of moving upwards.
Despite the bullish potential, the Awesome Oscillator （AO） remains negative, suggesting that bearish forces still have some influence. However, the presence of green histogram bars indicates that bulls are slowly taking control from bears, which could lead to a sustained upward trend if maintained.
解説
- Bulls And Bears indicator: Shows that there are more bulls than bears, suggesting a potential upward trend in FTM’s price.
- Support levels: Strong support at $0.32 based on GIOM data, with significant resistance at higher price points if holders decide to sell.
- Technical indicators: Trading above the 23.6% Fibonacci level and green histogram bars on the AO suggest potential for further price increases.
- Price targets: If bullish momentum continues, FTM could reach price targets of $0.56, $0.66, and $0.99.