Cryptocurrency

Sphere

Fantom

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/fantom-soars-in-the-crypto-sphere-with-over-33-growth" rel="noopener noreferrer nofollow">Fantom Soars in the Crypto Sphere with Over 33% Growth</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/crypto-rating-agencies-a-call-for-trust-and-transparency-in-the-cryptocurrency-sector" rel="noopener noreferrer nofollow">cryptocurrency</a> Fantom (FTM) has recently gained significant traction in the market, experiencing over a 33% increase in value within a two-day span. The altcoin has approached the $1 mark, currently trading at $0.96 after a slight decline from the $1 level, marking a 22% rise within the past day. This ascent has sparked widespread interest regarding the coin’s potential next steps.</p>
<h2 id="analyst-predicts-further-gains-for-fantom">Analyst Predicts Further Gains for Fantom</h2>
<p style="text-align: justify">Cryptocurrency analyst Ali Martinez, who previously forecasted the altcoin’s climb, observed a prominent pattern breakout and has now updated his price target for FTM to $1.44, signaling his anticipation of ongoing gains. Since early March, FTM’s value leaped by 150% from $0.41, attracting the attention of the investment community.</p>
<p style="text-align: justify">In spite of the recent price surge, FTM’s value remains 66% below its peak of $3.16 in 2021. With approximately 43% of investors holding at a loss, an immediate sell-off appears unlikely, potentially paving the way for continued price appreciation.</p>
<h2 id="exchange-supply-dwindles-boosting-fantom-s-price">Exchange Supply Dwindles Boosting Fantom’s Price</h2>
<p style="text-align: justify">A notable driver of Fantom’s growth is the reduction of FTM supply on <a href="https://en.bitcoinhaber.net/crypto-exchange-woo-x-raises-9-million-from-top-market-makers" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a> since March. This decline in exchange-held FTM, coupled with a price climb from around $0.50 to $0.82, points to a shift of assets to private wallets, reflecting heightened long-term confidence in the coin.</p>
<p style="text-align: justify">The current support levels for FTM are identified at $0.80 and $0.77 by the IOMAP chart. With a cluster of investors having purchased between $0.85 and $0.95, a degree of selling pressure is evident. For the rally to sustain momentum, bullish action is required.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/fantom-soars-in-the-crypto-sphere-with-over-33-growth" rel="noopener noreferrer nofollow">Fantom Soars in the Crypto Sphere with Over 33% Growth</a></h5>

Fantom Soars in the Crypto Sphere with Over 33% Growth

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