Fantom’s Sparkling Rise and Market Expectations

In the cryptocurrency market, Fantom (FTM) has gained over 33% value in the past two days, attracting attention. After reaching $1, FTM started trading at $0.96. Since the beginning of March, the value of FTM has shown a 150% increase, drawing interest from investors and analysts. Crypto Analysts Predict Rise Renowned cryptocurrency analyst Ali Martinez had previously predicted the rally of FTM and set a price target of $1.44 for FTM. This revision indicates the analyst’s belief that the rising trend in FTM will continue. Despite the current rise, FTM’s price is well below its 2021 peak of $3.16. Currently, FTM investors are experiencing an approximate 43% loss, which may alleviate selling pressure on the price, supporting the increase in FTM’s value for now. Decrease in FTM Supply on Exchanges One of the factors triggering the rise of FTM is the decrease in FTM supply on crypto exchanges since March. […]

Fantom’s Sparkling Rise and Market Expectations

In the cryptocurrency market, Fantom (FTM) has gained over 33% value in the past two days, attracting attention. After reaching $1, FTM started trading at $0.96. Since the beginning of March, the value of FTM has shown a 150% increase, drawing interest from investors and analysts.

Crypto Analysts Predict Rise

Renowned cryptocurrency analyst Ali Martinez had previously predicted the rally of FTM and set a price target of $1.44 for FTM. This revision indicates the analyst’s belief that the rising trend in FTM will continue.

Despite the current rise, FTM’s price is well below its 2021 peak of $3.16. Currently, FTM investors are experiencing an approximate 43% loss, which may alleviate selling pressure on the price, supporting the increase in FTM’s value for now.

Decrease in FTM Supply on Exchanges

One of the factors triggering the rise of FTM is the decrease in FTM supply on crypto exchanges since March. This decrease indicates assets being moved to cold wallets and investors having a long-term expectation.

When examining the IOMAP chart, it is observed that FTM has strong support around $0.80, but there is some selling pressure between $0.85 and $0.95 due to investors buying at those levels. To sustain the rise of FTM, the strength of the bear market needs to be maintained.

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