Sonic

Fantom

Foundation

<ul>
 <li>Fantom's recent performance follows the news of the Fantom Foundation partnering with Sonic Labs to launch the Sonic Labs Innovator Fund.</li>
 <li>$FTM sees a 2.60% rise today, forming a bullish engulfing candle and creating a morning star candlestick pattern.</li>
 <li>The morning star pattern appears at the 78.60% Fibonacci level, coinciding with the $0.50 psychological mark and a support trendline.</li>
 <li>&nbsp;Increased reversal chances suggest a potential bull cycle within the falling wedge pattern.</li>
 <li>The #<a href="https://www.coingabbar.com/en/crypto-currency/fantom-ftm-prices-usd" title="Fantom price" class="f-link" rel="noopener noreferrer nofollow">Fantom price</a> is currently battling resistance from the upper boundary of the descending parallel channel at $0.5834.</li>
 <li>A daily candlestick closing above this level would indicate a bullish breakout from the bearish chart pattern.</li>
 <li>According to Fibonacci levels, a bullish reversal from the 78.60% level could soon target the 61.80% mark at $0.63.</li>
 <li>According to <a href="https://www.coingabbar.com/en/price-prediction" title="Coin Gabbar analysis" class="f-link" rel="noopener noreferrer nofollow">Coin Gabbar analysis</a>, Failure to breach the upper channel boundary may keep FTM within the channel, risking lower lows, with $0.4583 as key support.</li>
</ul>
KEY LEVELS :
RESISTANCE LEVEL : $0.7800-$1.000
SUPPORT LEVEL : $0.4800-$0.3000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Is Fantom (FTM) Poised for a Price Rally Beyond the $1 Mark?

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