FTM Price Regains Momentum & Soared 10% Intraday: What’s Next?

Fantom （FTM） has seen a significant price recovery, with a 10% intraday surge reflecting a positive momentum shift. This article explores the recent developments and potential future movements for FTM.

Points

• Fantom price surged 10% intraday, indicating a positive momentum shift.
• The price defended the $0.3500 support zone, showing resilience.
• Technical indicators like RSI and MACD suggest potential for further recovery.
• Development activity and network growth metrics provide additional bullish signals.

Fantom’s Recent Price Recovery

Fantom （FTM） experienced a notable price recovery, surging 10% intraday to trade at $0.479 at press time. This surge reflects a positive momentum shift, with the price defending the critical $0.3500 support zone. Despite a bearish trend over the past few months, bulls have managed to regain control, pushing the price upward.

Technical Indicators Suggest Further Gains

The RSI curve displays a positive divergence, indicating an imminent potential recovery. Similarly, the MACD indicator highlights a bullish crossover on the chart, suggesting further upward movement. If the price continues to climb, it could target the 20-day EMA mark, providing additional bullish momentum.

Development Activity and Network Growth

Development activity on the Fantom network continues to surge, indicating ongoing efforts to launch new features and enhance the ecosystem. The number of contributors has risen by over 13% to 54, and the number of holders has surged to 114k. These metrics reflect a positive outlook for the network’s future.

Total Value Locked （TVL） and Market Sentiment

Despite a slight dip in Total Value Locked （TVL） data, indicating cautious market sentiment, the overall trend remains positive. The TVL stands at $102.5 million, a dip of over 8% in the last 24 hours. The immediate support levels for FTM are $1.80 and $1.30, while the key upside hurdles are $2.40 and $3.00.

Conclusion

Fantom’s recent price recovery and positive technical indicators suggest a potential for further gains. Development activity and network growth metrics provide additional bullish signals, reinforcing the positive outlook. As FTM continues to recover, it presents a promising opportunity for investors looking to capitalize on its upward momentum.