After a brief correction, the crypto market is resurging, largely fueled by Bitcoin's new high of $106,488. In this context, Fantom (FTM) has shown a significant increase of over 14%.
Fantom's Surge on Bitcoin's New Record
Following Bitcoin's lead, which hit a new peak, Fantom (FTM) has achieved significant gains, rising by 14% in the last 24 hours. FTM broke the resistance levels of $1.30 and $1.41, reaching a high of $1.47.
Current Market Situation and Chart Analysis
Currently, FTM is trading at $1.42 with a market cap of $3.96 billion. The daily trading volume remains at $770 million. Charts suggest that Fantom has broken past key resistance levels, potentially increasing towards $3.0053.
Future Growth Prospects and Risks
If the uptrend continues, FTM could test levels of $1.52 and $1.65. However, a trend reversal might lead to a drop to support levels at $1.29 and $1.11. MACD indicators show positive momentum, while the RSI indicates approaching the overbought zone.
Fantom is demonstrating positive momentum in alignment with the broader market's growth. However, investors should closely monitor market changes and current chart trends.
