{"id":10591,"date":"2024-10-22T07:00:47","date_gmt":"2024-10-22T07:00:47","guid":{"rendered":"https:\/\/cryptd.in\/analyst-says-fantom-ftm-downtrend-is-over-is-1-the-next-stop\/"},"modified":"2024-10-22T07:00:47","modified_gmt":"2024-10-22T07:00:47","slug":"analyst-says-fantom-ftm-downtrend-is-over-is-1-the-next-stop","status":"publish","type":"post","link":"https:\/\/cryptd.in\/bg\/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":"<p>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<h2>Fantom Breaks Out Of Downtrend<\/h2>\n<p>As Sunday ended, Fantom\u2019s price <a href=\"https:\/\/www.newsbtc.com\/news\/fantom-news\/fantom-to-2-ftm-price-recovery\/\" target=\"_blank\" rel=\"noopener\">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<p>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<p>Moreover, Fantom has been on a 7-month downtrend since its yearly high of $0.97, currently sitting 23% below it. Market analyst AMCrypto <a href=\"https:\/\/x.com\/AMCryptoAlex\/status\/1848330643526258885\" target=\"_blank\" rel=\"noopener\">\u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0435\u043d\u0438<\/a> that the cryptocurrency\u2019s downtrend \u201cis now over.\u201d<\/p>\n<p>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<p>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<p>Similarly, crypto investor Rager <a href=\"https:\/\/x.com\/Rager\/status\/1848178919230390671\" target=\"_blank\" rel=\"noopener\">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<h2>FTM\u2019s Price Targets $3<\/h2>\n<p>Analyst Altcoin Sherpa <a href=\"https:\/\/x.com\/AltcoinSherpa\/status\/1848132708838289763\" target=\"_blank\" rel=\"noopener\">\u0441\u043f\u043e\u0434\u0435\u043b\u0435\u043d<\/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<p>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 <a href=\"https:\/\/www.newsbtc.com\/bitcoin-news\/bitcoin-investors-miners-unusual-exchange-inflow\/\" target=\"_blank\" rel=\"noopener\">\u0438\u0437\u043f\u0443\u0441\u043d\u0430\u0442\u0438<\/a> 2.2% to the $67,000 support zone on Monday morning.<\/p>\n<p>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<p>Meanwhile, other market watchers <a href=\"https:\/\/x.com\/mr_pschmitt\/status\/1848178336339804231\" target=\"_blank\" rel=\"noopener\">\u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0435\u043d\u0438<\/a> that FTM will hit a new ATH before its token migration. As <a href=\"https:\/\/www.newsbtc.com\/news\/fantom\/ftms-key-support-at-risk-as-fantom-launches-sonic-foundation-and-wraps-10m-funding\/\" target=\"_blank\" rel=\"noopener\">\u0441\u044a\u043e\u0431\u0449\u0430\u0432\u0430<\/a> by NewsBTC, Fantom is set to transition to the Sonic Network between November and December of this year.<\/p>\n<p>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<p>Fantom trades at $0.746, a 0.4% surge in the daily timeframe at the time of writing.<\/p>","protected":false},"excerpt":{"rendered":"<p>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). Fantom Breaks Out Of Downtrend As Sunday ended, Fantom\u2019s price jumped 8.2% [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":10592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Analyst Says Fantom (FTM) Downtrend Is Over, Is $1 The Next Stop? - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/bg\/analyst-says-fantom-ftm-downtrend-is-over-is-1-the-next-stop\/\" \/>\n<meta property=\"og:locale\" content=\"bg_BG\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst Says Fantom (FTM) Downtrend Is Over, Is $1 The Next Stop? - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Fantom (FTM) registered a remarkable performance over the past 24 hours, attempting to break above a crucial horizontal level. 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