Cryptocurrency

Sphere

Fantom

Propel

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/fantom-sees-significant-price-leap-in-crypto-sphere" rel="noopener noreferrer nofollow">Fantom Sees Significant Price Leap in Crypto Sphere</a><br></p>
<p style="text-align: justify">Cryptocurrency Fantom (FTM) has recently made headlines with a sharp increase in its market value, jumping over 33% in a two-day span and nearing the $1 mark. Currently, it trades at $0.96 after a 22% rise within the past 24 hours, having pulled back slightly from the $1 level. This uptick in value has sparked discussions about the altcoin’s potential future movements.</p>
<h2 id="analyst-s-bullish-stance-on-fantom-strengthens">Analyst’s Bullish Stance on Fantom Strengthens</h2>
<p style="text-align: justify">The price of FTM has impressively climbed 150% from $0.41 to its present position since early March, drawing the focus of investors and market experts. Cryptocurrency analyst Ali Martinez, who had anticipated the uptrend, observed a significant breakout in the altcoin’s performance on its multi-year chart.</p>
<p style="text-align: justify">Martinez has now adjusted his initial price forecast for FTM, projecting a potential rise to $1.44. His revised target reflects his optimism regarding the continuation of Fantom’s upward trajectory.</p>
<p style="text-align: justify">While FTM has seen remarkable gains, it remains 66% below its 2021 peak of $3.16. Furthermore, around 43% of investors are currently holding at a loss. This dynamic indicates that there may be minimal selling pressure from existing stakeholders, which could fuel sustained appreciation in the altcoin’s market price.</p>
<h2 id="diminishing-exchange-supplies-propel-ftm-s-value">Diminishing Exchange Supplies Propel FTM’s Value</h2>
<p style="text-align: justify">A key factor in Fantom’s price surge is the reported decrease in FTM available on <a href="https://en.bitcoinhaber.net/south-koreas-bithumb-flexes-market-muscle-against-upbit" rel="noopener noreferrer nofollow"></a><a href="https://en.bitcoinhaber.net/exposing-cryptocurrency-deceptions-opnx-shuts-down-as-oxfun-emerges" rel="noopener noreferrer nofollow">cryptocurrency</a> exchanges since March. The declining exchange reserves, paired with a price lift from about $0.50 to $0.82, imply a significant transfer of assets to private wallets, reflecting strong confidence in the altcoin’s long-term potential.</p>
<p style="text-align: justify">Analyzing the IOMAP chart reveals robust support at the $0.80 mark, with additional backing at $0.77. Despite this support, a cluster of investors who entered the market between $0.85 and $0.95 may exert some selling pressure. For the bull run to persist, proactive measures by bullish investors will be crucial.</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-sees-significant-price-leap-in-crypto-sphere" rel="noopener noreferrer nofollow">Fantom Sees Significant Price Leap in Crypto Sphere</a></h5>

Fantom Sees Significant Price Leap in Crypto Sphere

Table of Contents

BH NEWS

Other articles published on Mar 16, 2024

Expecting Bitcoin to hike after the halving? Think again because…

Millions of SHIB Burned Amid Major Price Correction

Koala Coin (KLC) Kicks Off with a Bang: Dogecoin (DOGE) and Litecoin (LTC) Enthusiasts Lead the C...

Chatbot Security Vulnerabilities Exposed: Researchers Warn of Potential Privacy Risks

Bitcoin (BTC) Price Recoups $70,000 Showing Strength Before FOMC, Will ETH Catch Up?

BOOK OF MEME Skyrockets: What’s Driving This Crypto Sensation?

Join our free newsletter for daily crypto updates!