Over the past month, the price of Fantom (FTM) has seen a significant increase, rising by 50%. However, recent statistics suggest a possible slowdown in this growth trend, raising questions about its sustainability.
FTM Price Surge
According to CoinGecko data, at the time of publication, FTM is trading at $0.4846. The daily trading volume is $286,462,423, with a slight decrease of 0.12% in the last day. Despite this minor setback, FTM has maintained a strong 25.11% price rise over the week.
Growth Momentum Slowing
Crypto analysts and traders have noted FTM's price action, sharing their perceptions on the token's short-term prospects. Some believe the current price levels may represent a potential bull trap, while others see further room for growth.
Analysts' Forecasts
Contradicting the cautious sentiment, another prominent analyst, @Nebraskangooner, identified a potentially bullish chart pattern for FTM on the weekly timeframe. The analyst pointed out a positive view suggesting a possible mid-term goal range of $0.5800 to $0.600.
Analysts remain cautious, advising to wait for potential price corrections before making further investment decisions. Overall, current data indicates a need for temporary caution when assessing FTM's value.
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