Fantom Price Climbs 75% Monthly Growth and $317M Trading Activity
The altcoin market has seen tremendous growth in recent days despite the continuous instability in the cryptocurrency space. The Fantom token portfolio saw $317.86 million in trade volume in a single day. This altcoin has increased by around 75% in 30 days and has a 169.22% year-to-date return while seeing a decline of 5.22% over the previous week.
Fantom Price Forecast: Will FTM Hit $1.60 or Retest $1.20?
In the longer time frame, the Fantom price chart is supported by the Simple Moving Average (SMA), indicating a robust positive price movement for the FTM cryptocurrency token. In the daily time frame, the Relative Strength Index (RSI) shows a steep drop below the overbought range. The average trendline, however, is still circling the overbought range. This indicates that the altcoin’s price sentiment in the cryptocurrency market is mixed.
Coinpedia says that the price of Fantom may revisit its resistance level of $1.40 this weekend if the optimistic feeling continues to grow. If the price stays above that threshold, it may pave the way for this altcoin to go closer to its upper price target of $1.60. On the other hand, the price of the FTM coin may retest its $1.20 support level if a trend reversal takes place.
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