• FTM has soared 63% to an 18-month excessive and is testing main resistance at $1.22.
• The bullish momentum continues as FTM turns $1.02 into necessary help.
• If the worth breaks above $1.22, it might rise to $1.49, but when it fails, there’s a danger of a fall again to $0.86.

Fantom (FTM) has rebounded, up 63% over the previous six days, hitting $1.08 at press time. This bullish momentum coincides with a surge in day by day energetic addresses on the community, reaching their highest stage in almost 18 months.

In accordance with Santiment knowledge, Fantom recorded 2,132 distinctive day by day energetic addresses that despatched cash between November 24 and 25. This spike exceeds earlier exercise peaks, together with 1,489 addresses recorded on December 22-23, 2023, and a couple of,040 addresses recorded on March 19-20, 2024.

Traditionally, such strikes have signaled a short-term value ceiling, and sometimes a correction happens as pleasure wears off. These patterns counsel that concern of lacking out (FOMO) amongst merchants is inflicting a short lived spike in utility. It stays to be seen whether or not Fantom's present rally will proceed.

FTM costs and market indicators

FTM is at present buying and selling at $1.08, giving it a market cap of $3.02 billion. The 24-hour buying and selling quantity was $1.35 billion, a rise of 53.39% from the day prior to this.

The FTM weekly chart reveals bullish momentum with the worth above all main exponential shifting averages (EMA 20/50/100/200). The present value is $1.08, effectively above the 200-day EMA of $0.4628, confirming a stable uptrend. The 20-day EMA ($0.6928) and 50-day EMA ($0.6026) present a widening hole, reinforcing the bullish development.

Nevertheless, the relative energy index (RSI) is at 66.06, indicating that FTM is approaching overbought circumstances. This implies that FTM’s bullish momentum might weaken. The cryptocurrency surged above the important thing 78.6% Fibonacci retracement stage at $1.02, turning right into a key help zone.

Nonetheless, the token is dealing with a resistance stage at $1.22, a zone final seen on March 18th. If FTM breaks via this stage, additional positive aspects may very well be seen. If the worth fails to interrupt out of $1.22, it might fall again to $0.86 according to the 61.8% Fibonacci retracement stage. Alternatively, if the rally continues, the token might attain $1.49, which might match the 127.20% Fibonacci extension.