{"id":649131,"date":"2024-10-22T07:00:47","date_gmt":"2024-10-22T07:00:47","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=649131"},"modified":"2024-10-22T03:31:23","modified_gmt":"2024-10-22T03:31:23","slug":"analyst-says-fantom-ftm-downtrend-is-over-is-1-the-next-stop","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/analyst-says-fantom-ftm-downtrend-is-over-is-1-the-next-stop\/","title":{"rendered":"Analyst Says Fantom (FTM) Downtrend Is Over, Is $1 The Next Stop?"},"content":{"rendered":"

Fantom (FTM) registered a remarkable performance over the past 24 hours, attempting to break above a crucial horizontal level. Some market watchers forecasted a 345% surge before the year\u2019s end but set the key levels to reclaim before FTM\u2019s new all-time high (ATH).<\/p>\n

Related Reading: 7 Reasons To Be Bullish On Bitcoin This Week<\/a><\/div>\n

Fantom Breaks Out Of Downtrend<\/h2>\n

As Sunday ended, Fantom\u2019s price jumped<\/a> 8.2% toward a crucial resistance level not seen in four months. The cryptocurrency neared the $0.8 mark for the second time in the last seven days, fueling a bullish sentiment among investors.<\/p>\n

FTM has registered a 46.6% increase in the past three months, recovering from Q3\u2019s market crashes and challenging June\u2019s price action. June\u2019s horizontal resistance marks the first crucial level for the cryptocurrency, as it was a strong support area during Q1 and Q2.<\/p>\n

Moreover, Fantom has been on a 7-month downtrend since its yearly high of $0.97, currently sitting 23% below it. Market analyst AMCrypto suggested<\/a> that the cryptocurrency\u2019s downtrend \u201cis now over.\u201d<\/p>\n

The analyst noted that the token broke above the trendline after surging above the $0.74 resistance level and testing it as support over the last week. However, he highlighted the similarities between FTM\u2019s chart today and before Q1\u2019s rally.<\/p>\n

\"Fantom\"
FTM breaks above the downtrend line. Source: AMCrypto on X<\/figcaption><\/figure>\n

Fantom rose two times to the upper range of its accumulation zone and retraced before its run toward its yearly high. To AMCrypto, FTM could see a final correction toward the $0.70-$0.72 range before rallying 35% toward \u201c$1 and above.\u201d<\/p>\n

Similarly, crypto investor Rager commented<\/a> on FTM\u2019s chart strength. To the investor, the token \u201cgives the Solana 2023 pump-like vibes,\u201d suggesting it will \u201cplay catch up for the major chains over the next three months.\u201d<\/p>\n

FTM\u2019s Price Targets $3<\/h2>\n

Analyst Altcoin Sherpa shared<\/a> his thoughts on the token\u2019s future performance. Sherpa considers that Fantom will continue \u201cto grind higher\u201d if Bitcoin\u2019s price remains stable.<\/p>\n

BTC\u2019s movements have affected FTM\u2019s price, losing support losing its support whenever the flagship crypto drops. However, Fantom has managed to hold above the recently reclaimed $0.74 mark as Bitcoin dropped<\/a> 2.2% to the $67,000 support zone on Monday morning.<\/p>\n

The cryptocurrency must regain the $0.75 mark to continue building on its bullish momentum and reclaim the $0.8 resistance. Turning this level into support targets a potential rise above $3.<\/p>\n

Meanwhile, other market watchers suggested<\/a> that FTM will hit a new ATH before its token migration. As reported<\/a> by NewsBTC, Fantom is set to transition to the Sonic Network between November and December of this year.<\/p>\n

Related Reading: Long-Silent Bitcoin Whale Resurfaces After 10 Years As BTC Price Soars<\/a><\/div>\n

The transition will see FTM migrating to Sonic\u2019s native token, S, offering a 1:1 conversion ratio for FTM holders. The new cryptocurrency will have a 3.175 billion token supply like Fantom but will mint an additional 190.5 million tokens, worth 6% of the supply, six months after its launch.<\/p>\n

Fantom trades at $0.746, a 0.4% surge in the daily timeframe at the time of writing.<\/p>\n

\"Fantom,
Fantom’s performance in the three-day chart. Source: FTMUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Fantom (FTM) registered a remarkable performance over the past 24 hours, attempting to break above a crucial horizontal level. Some market watchers forecasted a 345% surge before the year\u2019s end but set the key levels to reclaim before FTM\u2019s new all-time high (ATH). Related Reading: 7 Reasons To Be Bullish On Bitcoin This Week Fantom Breaks Out Of Downtrend As Sunday ended, Fantom\u2019s price jumped 8.2% toward a crucial resistance level not seen in four months. The cryptocurrency neared the $0.8 mark for the second time in the last seven days, fueling a bullish sentiment among investors. FTM has registered a 46.6% increase in the past three months, recovering from Q3\u2019s market crashes and challenging June\u2019s price action. June\u2019s horizontal resistance marks the first crucial level for the cryptocurrency, as it was a strong support area during Q1 and Q2. Moreover, Fantom has been on a 7-month downtrend since its yearly high of $0.97, currently sitting 23% below it. Market analyst AMCrypto suggested that the cryptocurrency\u2019s downtrend \u201cis now over.\u201d The analyst noted that the token broke above the trendline after surging above the $0.74 resistance level and testing it as support over the last week. However, he highlighted the similarities between FTM\u2019s chart today and before Q1\u2019s rally. Fantom rose two times to the upper range of its accumulation zone and retraced before its run toward its yearly high. To AMCrypto, FTM could see a final correction toward the $0.70-$0.72 range before rallying 35% toward \u201c$1 and above.\u201d Similarly, crypto investor Rager commented on FTM\u2019s chart strength. To the investor, the token \u201cgives the Solana 2023 pump-like vibes,\u201d suggesting it will \u201cplay catch up for the major chains over the next three months.\u201d FTM\u2019s Price Targets $3 Analyst Altcoin Sherpa shared his thoughts on the token\u2019s future performance. Sherpa considers that Fantom will continue \u201cto grind higher\u201d if Bitcoin\u2019s price remains stable. BTC\u2019s movements have affected FTM\u2019s price, losing support losing its support whenever the flagship crypto drops. However, Fantom has managed to hold above the recently reclaimed $0.74 mark as Bitcoin dropped 2.2% to the $67,000 support zone on Monday morning. The cryptocurrency must regain the $0.75 mark to continue building on its bullish momentum and reclaim the $0.8 resistance. Turning this level into support targets a potential rise above $3. Meanwhile, other market watchers suggested that FTM will hit a new ATH before its token migration. As reported by NewsBTC, Fantom is set to transition to the Sonic Network between November and December of this year. Related Reading: Long-Silent Bitcoin Whale Resurfaces After 10 Years As BTC Price Soars The transition will see FTM migrating to Sonic\u2019s native token, S, offering a 1:1 conversion ratio for FTM holders. The new cryptocurrency will have a 3.175 billion token supply like Fantom but will mint an additional 190.5 million tokens, worth 6% of the supply, six months after its launch. Fantom trades at $0.746, a 0.4% surge in the daily timeframe at the time of writing. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":649135,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,26263,10923,89756,9376,90984,91910,43491,85756,93238,91950],"class_list":["post-649131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto-analyst","tag-crypto-market","tag-crypto-trader","tag-fantom","tag-fantom-bullish","tag-fantom-sonic","tag-ftm","tag-ftmusdt","tag-s-token","tag-sonic-network-upgrade"],"acf":[],"yoast_head":"\nFantom: Analyst Says FTM's Downtrend Is Over, Is $1 Next?<\/title>\n<meta name=\"description\" content=\"Some crypto analysts suggest Fantom (FTM) downtrend if over, setting the next targets for its bullish rally toward a new 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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