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Published: December 22, 2024
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- Fantom’s rate rise is supported by strong network development and crucial resistance targets near$1.50.
- Technical indications and market belief emphasize careful optimism for continual upward momentum.
Fantom [FTM] has actually caught attention with a remarkable 23.13% rise in the last 24 hours, bringing its rate to $1.07 at press time.
This excellent development, sustained by increasing network adoption and favorable onchain metrics, raises the concern: is Fantom on track to lead a more comprehensive crypto market rally in the coming weeks?
Fantom chart analysis: rate motion, essential levels, and targets
Fantom’s chart exposes a robust bullish structure, with the cost breaking past the vital $1.00 level, now serving as strong assistance. The next resistance lies at $1.14, an essential mental and technical level.
In addition, if momentum continues, FTM might evaluate the $1.50 resistance, a breakout above which might verify a continual rally. Traders ought to stay mindful of a prospective retracement, as assistance at $0.84 lines up with an enduring rising trendline.
Preserving present momentum is essential for Fantom to attain these enthusiastic targets.
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Source: TradingView
Network development metrics signal substantial user interest. New addresses rose by 73.68 %in the previous week, while zero-balance accounts increased 55.47 %. This shows strong adoption as more users sign up with the community.
Furthermore, the increasing activity shows growing self-confidence in FTM, which straight supports the continuous cost rally. As adoption patterns stay favorable, they might drive continual development in the token’s worth.
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Source: IntoTheBlock
On-chain signals: bullish or mindful?
FTM’s onchain signals provide a mainly bullish outlook. Net network development stands at +0.54%, verifying stable growth. The “In the Money” metric dipped by -1.23%, recommending minor profit-taking amongst financiers.
On the other hand, big deals increased by 0.50%, showing that institutional and high-value trades continue to support the bullish pattern. While short-term care exists, the total outlook stays favorable.
Source: IntoTheBlock
FTM technical indications: volatility and momentum
Fantom’s technical indications recommend growing volatility and momentum. The Stochastic RSI stands at 3.71 and 3.29, indicating oversold conditions with capacity for a more upward relocation.
In addition, FTM’s cost is near the upper Bollinger Band at $1.22, showing bullish pressure, while the lower band at $0.98 deals support. Breaching the $1.14 resistance stays important for opening greater targets such as $1.50.
Source: TradingView
The long/short ratio for FTM exposes mindful optimism. While 52.82% of traders are brief, 47.18% stay long, revealing a balance in between bullish and bearish expectations.
This ratio shows combined belief, as traders weigh the possibility of ongoing gains versus the danger of short-term corrections.
Source: Coinglass
Check out Fantom’s [FTM] Rate Prediction 2024-25
Fantom appears poised to lead the next market rally.
