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Fantom’s Bold Move: Can Rebranding to Sonic Spark FTM Price Surge to $1?
In a recent development, Fantom has decided to rebrand itself as Sonic (ex-FTM). This bold move might have significant implications for the altcoin’s future prospects. As of this writing, the market is witnessing a bullish crossover in the daily time frame, indicating a positive outlook for FTM in the coming days.
As you can see from the provided chart analysis, the RSI indicator shows a constant rise towards the mid-point with its average trendline acting as support in the Fantom price chart. This suggests that the price of FTM could continue to gain momentum this week.
Now, let’s look at what lies ahead for Sonic (ex-FTM) price. If the bulls regain momentum, it is possible that the FTM coin price could reclaim the $0.80 mark. Maintaining the price above that level could set the stage for this altcoin to head towards its important resistance trendline of the $1 mark.
However, if the crypto market turns bearish, this could result in the Fantom price retesting its support level of $0.70. Furthermore, if the bulls fail to regain momentum at that point, it could pull the price toward its low of $0.65 this month.
To find out answers to questions like “Will Fantom reach $10 dollars?” Read our Fantom Price Prediction to uncover the possible long-term price action!
FAQs
How much is Fantom today? With a 24-hour trading volume of $7.537 million, the Sonic price is valued at $0.7100.
Can FTM reach $50? For this altcoin to achieve this price target, it will require a price surge of 6,942.25% in its current valuation.
Is there a future for Fantom? With Fantom’s recent migration to Sonic (S), this project is expected to roll out significant upgrades, making it a potential long-term investment.
Is FTM coin a good investment? Amid rising volatility and increased adoption, the FTM coin price could reach a maximum price of $3.72 this year.
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Altcoins Price Analysis
Source: coinpedia.org
