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Fantom Breaks $1: Will FTM Continue Its Bullish Trend Towards $1.50?
In a stunning turn of events, Fantom (FTM) has broken the psychological barrier of $1, sending shockwaves throughout the cryptocurrency market. As we explore this phenomenon further, it’s crucial to consider whether this momentum will be sustained and potentially even surpass previous expectations.
Fantom’s price surge is backed by significant network growth and key resistance targets near $1.50. The project has seen a substantial 23.13% spike in the last 24 hours, bringing its value to $1.07 at press time. This remarkable increase is fuelled by increasing network adoption and positive on-chain metrics.
To assess FTM’s trajectory, we must analyze recent chart activity. Upon closer inspection, it becomes clear that Fantom’s bullish structure remains intact. The coin has surpassed the critical $1 threshold, which now acts as robust support. Furthermore, traders should be aware of the potential for a retracement around $0.84, aligned with an ascending trendline.
Should FTM continue its upward momentum, there are multiple resistance levels to be overcome before reaching $1.50. The key psychological level at $1.14 is the next crucial hurdle; breaking through this barrier could unlock further growth opportunities. However, traders must remain cautious and prepared for potential short-term corrections as we navigate these uncertain markets.
In conclusion, Fantom’s robust bullish stance, reinforced by robust network growth metrics, reinforces the notion that FTM is well-positioned to continue its upward trajectory if key resistance levels are breached.
Source: ambcrypto.com
