Token

Bitcoin

Fantom

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fantom-token-surges-as-crypto-market-struggles/" data-wpel-link="internal">Fantom Token Surges as Crypto Market Struggles</a><br></p>
<p style="text-align: justify">On March 19, the cryptocurrency market experienced a further decline as <strong><a href="https://coin-turk.com/bu-iki-token-bitcoini-birinci-ceyrekte-acik-ara-yendi" data-wpel-link="internal">Bitcoin</a> (<a href="https://en.coin-turk.com/potential-bitcoin-etf-approval-could-propel-market-value-to-trillion-dollar-heights/" data-wpel-link="internal">BTC</a>)</strong> fell below the $65,000 threshold. This downward movement affected the entire market, leading to increased losses among major altcoins, including Fantom (FTM).</p> 
<h2 id="ftm-price-movements">FTM Price Movements</h2> 
<p style="text-align: justify">However, the <strong>FTM</strong> price exhibited significant resistance above $0.8 and recovered by 13%, crossing the $1 mark. Is this recovery sustainable amidst the market correction? The native token of the crypto network’s Fantom ecosystem, FTM, has been on a significant upward trend since the end of January. With a solid foundation at the intersection of the $0.3 support level and the 200-day exponential moving average, FTM’s price has recorded a notable increase of 241% over the last two months and is currently trading at $1.04.</p> 
<p style="text-align: justify">Reflecting this price increase, open positions in Fantom have also seen a notable rise. <strong>Coinglass</strong> reported a jump from $63.5 million to $267 million since the second half of January. This substantial increase of approximately 320.47% could indicate a significant rise in investor confidence and growing interest in the cryptocurrency. This recovery could reveal the formation of a bullish reversal pattern known as a rounded bottom, indicating a potential shift from a downward to an upward momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-330384 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ftm.png" alt="" width="1946" height="937"></p> 
<h2 id="critical-formation-in-ftm">Critical Formation in FTM</h2> 
<p style="text-align: justify">Moreover, this pattern is characterized by a gradual and steady recovery of prices, creating a bowl or saucer-like appearance on the chart, and is often a precursor to a continuing upward trend. With today’s long bullish candle, the Fantom price has surpassed the $1.04 resistance, potentially paving the way for a prolonged rise. If the momentum of the rounded bottom pattern continues, we could see the cryptocurrency’s revival reaching $1.25 and possibly hitting $1.68.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/fantom-token-surges-as-crypto-market-struggles/" data-wpel-link="internal">Fantom Token Surges as Crypto Market Struggles</a></h5>

Fantom Token Surges as Crypto Market Struggles

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