Fantom (FTM) has displayed indications of recovery following a sharp decline in price on Friday. The sudden drop led FTM to fall below the crucial $0.75 support level, reaching a low of $0.65 before bouncing back. Despite the significant 18% decrease, FTM managed to close the day at $0.77, sparking cautious optimism among market participants. Currently, FTM is being traded at $0.7066, reflecting a notable 13.19% decline in the past 24 hours.

The potential for FTM's recovery is closely tied to the performance of Bitcoin (BTC). Should BTC stabilize and alleviate selling pressure, holders of FTM may maintain hope for a sustained upward trend. In order for FTM to solidify its recovery, it is essential for the coin to reclaim stability above the $0.75 mark. By establishing firm ground above this level, FTM could set itself up to challenge the resistance at $0.889, which marks the midpoint of the significant 55% drop observed from March 22 to April 13.