- Fantom (FTM) is gaining attention in the cryptocurrency market with a bullish outlook from industry experts.
- Analysts are highlighting its strong fundamentals and potential for significant price increases.
- Guy Turner from Coin Bureau predicts a notable rise in FTM’s value based on technical analysis.
Discover why Fantom (FTM) is poised for growth and what it means for investors in the evolving crypto market.
What Does the Technical Analysis Say?
Turner highlighted that Fantom’s weekly chart is forming a peculiar head and shoulders pattern, reminiscent of the peak seen in late 2021. This pattern suggests that Fantom might have another upward movement left. According to his technical analysis, Fantom could potentially double its current price, aiming for a 98% increase. Turner predicts that FTM could reach $1.60 in the short to medium term, although it may encounter resistance due to previous bull market participants. The exact future movements, however, remain uncertain.
Why Is Fantom Expected to Rise?
Turner elaborated on the factors supporting his positive outlook for Fantom. He noted that FTM has strong fundamentals, including a low price and a market cap that allows for substantial growth. Additionally, the fact that FTM’s supply has been distributed to investors and the team reduces selling pressure. He also mentioned that the only thing missing for FTM is a narrative that individual investors can grasp and greater retail accessibility. Currently, FTM is not listed on Coinbase, but this could change with regulatory adjustments in the US.
Key Takeaways for Investors
- Fantom’s current market cap stands at $2.3 billion, ranking it 52nd in volume.
- The cryptocurrency is trading at $0.8355, reflecting a 4% rise.
- FTM has shown a 4% decline weekly but a 15% increase over the past 30 days.
- Potential short to medium-term price target is $1.60.
- Listing on major exchanges like Coinbase could significantly impact FTM’s accessibility and price.
Fantom continues to attract attention with its potential for substantial growth and its strong fundamentals, making it a cryptocurrency to watch closely in the coming months.
Conclusion
In conclusion, Fantom (FTM) presents a promising investment opportunity with its strong fundamentals and potential for significant price increases. While the exact future movements remain uncertain, the technical analysis and market factors suggest a bullish outlook. Investors should keep an eye on regulatory developments and potential listings on major exchanges, which could further boost FTM’s accessibility and value.
