Bitcoin

Fantom

Reversal

The post <a href="https://coinpedia.org/price-analysis/aggressive-buyers-bring-trend-reversal-in-ftm-price-eyes-1/" rel="noopener noreferrer nofollow">Aggressive Buyers Bring Trend Reversal In FTM Price, Eyes $1</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Bitcoin surged back to $65,000 with an overnight jump of 7.64%, bringing an altcoins sector recovery. Amidst the new bull run, the FTM price shows an amazing high-speed overnight move, leading to a trend reversal.&nbsp;
As the uptrend in Fantom gains momentum, the altcoin offers a breakout entry opportunity for sideline traders. Is this the breakout rally which could pump the Fantom price above $1? Find out more in our <a href="https://coinpedia.org/price-prediction/stacks-stx-price-prediction/" rel="noopener noreferrer nofollow">FTM price prediction</a>, which projects a sprint to $10 in 2024.&nbsp;
<h2 class="wp-block-heading" id="h-fantom-price-performance">Fantom Price Performance</h2>
With a 26% drop in the last 24 hours, the FTM token price shows a breakneck bullish reversal from $0.64. The sudden turnaround with market recovery concludes the consolidation phase for Fantom. As this range formation ends, the sideline traders anticipate a bull run in the coming weeks.
<figure class="wp-block-image"><img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/05/16111545/image-367.png" alt="" class="wp-image-303283" srcset="https://image.coinpedia.org/wp-content/uploads/2024/05/16111545/image-367.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/05/16111545/image-367-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/05/16111545/image-367-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/05/16111545/image-367-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/05/16111545/image-367-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/05/16111545/image-367-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
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<a href="https://www.tradingview.com/x/Zi76HpVA/" rel="noopener noreferrer nofollow">TradingView</a>
Further, the FTM price action shows the bullish reversal breaking above the resistance trendline, concluding the pullback phase. Hence, as the momentum unleashes, the Fantom token could soon surpass $1.&nbsp;
Currently, the FTM price trades at $0.8016 with an intraday growth of 5.39%, following the 18.38% jump last night. As the trading volume spikes to bolster the ongoing massive surge, the chances of a bull run are bigger than ever.&nbsp;
Technical Indicators:
RSI: The daily RSI line shows a bullish spike, almost reaching the 70% line, reflecting a sudden boom in demand.&nbsp;Hence, the momentum indicator supports the bullish view for Fantom.
EMAs: The bullish surge breaking above the 50D EMA negates the death cross possibility in the daily chart.&nbsp;
<h2 class="wp-block-heading" id="h-will-ftm-price-cross-1-50">Will FTM Price Cross $1.50?</h2>
As per the trend-based Fibonacci levels, the FTM price reversal rally challenges the 23.60% level at $0.8194. If the momentum persists, the Fantom token price could hit the $1 mark this month. Optimistically, the bull run could reach 1.618 Fib level at $1.85.

Aggressive Buyers Bring Trend Reversal In FTM Price, Eyes $1

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