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Fantom

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<p>Amid this ongoing market reversal, Fantom (FTM) is poised for a significant upside momentum following a strong bullish price action pattern breakout. On September 17, 2024, while the overall cryptocurrency market struggled to gain momentum, <a href="https://coinpedia.org/price-prediction/fantom-ftm-price-prediction/" target="_blank" rel="noreferrer noopener">FTM’s price surged by over 9% </a>in the past 24 hours.</p>   
<h2 class="wp-block-heading" id="h-fantom-ftm-price-analysis"><strong>Fantom (FTM) Price Analysis</strong></h2>   
<p>At press time, FTM is trading near $0.566 and has experienced a price surge of over 9% in the last 24 hours. During the same period, its trading volume has skyrocketed by 15%, indicating higher participation from traders and investors following the recent breakout.</p>   
<h2 class="wp-block-heading" id="h-ftm-technical-analysis-and-upcoming-levels-nbsp"><strong>FTM Technical Analysis and Upcoming Levels&nbsp;</strong></h2>   
<p>According to expert technical analysis, <a href="https://coinpedia.org/price-analysis/xrp-ftm-or-popcat-which-altcoin-will-hit-the-1-mark-first/" target="_blank" rel="noreferrer noopener">Fantom (FTM) appears bullish</a>, having broken a strong resistance level of $0.54 and the neckline of a bullish inverted head-and-shoulders pattern. Following this breakout, FTM has cleared the path for an upside rally.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/09/17204113/FTMUSD.P_2024-09-17_20-41-00.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/09/17204113/FTMUSD.P_2024-09-17_20-41-00-1024x448.png" alt="" class="wp-image-351775"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>Currently, there is one hurdle that FTM might face near the $0.64 level. If it breaches that level, there is a strong possibility it could soar by 50% to the $0.85 level.</p>   
<p>Additionally, FTM is trading above the 200 Exponential Moving&nbsp; Average (EMA) on the daily time frame. The 200 EMA is a technical indicator that traders and investors use to determine whether an asset is in an uptrend or downtrend.</p>   
<h2 class="wp-block-heading" id="h-ftm-s-bullish-on-chain-metrics-nbsp"><strong>FTM’s Bullish On-chain Metrics&nbsp;</strong></h2>   
<p>However, this bullish outlook is further supported by the on-chain metrics. According to the on-chain analytic firm <a href="https://www.coinglass.com/currencies/FTM" target="_blank" rel="noreferrer noopener nofollow">Coinglass</a>, FTM’s Long/Short ratio currently stands at 1.0597, indicating strong bullish sentiment among traders. Additionally, FTM’s future open interest has skyrocketed by 25% in the last 24 hours, showing growing interest from traders and investors following a bullish breakout.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/09/17204141/kjdnjndvnd.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/09/17204141/kjdnjndvnd-1024x274.png" alt="" class="wp-image-351776"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<p>Traders and investors often use the combination of rising open interest and a long/short ratio above 1 to build their long/short positions.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/09/17204213/dkvndvckd.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/09/17204213/dkvndvckd-1024x362.png" alt="" class="wp-image-351777"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<p>Currently, 51.5% of top traders hold long positions, while 48.5% hold short positions. This data suggests that bulls are dominating the asset and have the potential to support the upcoming price rally.&nbsp;</p>   
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/this-altcoin-displays-a-huge-potential-of-80-surge-in-q4-is-it-the-right-time-to-buy/" target="_blank" rel="noreferrer noopener">This Altcoin Displays a Huge Potential of 80% Surge in Q4-Is it the Right Time to Buy?</a></p>

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