TL;DR Breakdown
- Fantom price prediction for today is bullish, up by 5.34%.
- The nearest price support is at $1.38, which currently holds.
- The nearest price resistance is present at 1.503 USD.
Fantom is one of the biggest smart contracts platforms with a lot of projects influencing the price action. The current price of Fantom is $1.45, up by 5.34 percent from the day before. Fantom has performed incredibly well in the short term, and it is expected to continue its uptrend because of “Uptober.”
The data presented by Coinmarketcap shows that the price of the token’s trading volume has surged by 18.10 percent as the market dominance stays at 0.18. The market capitalization of the coin is up by 11.73 percent, standing at $3.7 billion.
Fantom price prediction is certainly bullish as Bitcoin grabbed the 48K USD price once more. If this price level maintains, we will see Bitcoin go above the $50K price level.
Fantom price momentum in the recent period
Fantom price prediction can be made accurately based on the coin’s price movement in the past few days. On 30th August, we saw an increase of 36.37%, followed by a rise of 20.96% on 1st September. From 3rd to 9th September, a cumulative growth of 70.18% was seen that caught the eye of many investors.
On 20th September, the cryptocurrency price dropped by 21.21 percent, while on 21st September, a 14.43 percent drop was seen. Yesterday, a price surge of 17.49 percent was seen, and this bullish scenario continues.
Technical indicators are extremely bullish
Fantom price prediction shows that the price action may break out of the upper end of the Bollinger Bands. Seven consecutive green candles were seen that brought the price action to the upper end of these Bands.
Fantom price analysis on the 4-hour chart shows that the price action is still above the 50-day and 100-day Moving Averages. This means that the trend will remain bullish.
As seen in the 4-hour price chart below, the MACD indicator shows that the blue line (MACD line) has diverged from the point of intersection with the signal line. This signifies a bullish crossover as the blue line is well above the orange line.
The RSI line is currently trying to enter the overbought zone, i.e., above the 70-level. The line gradient is sharply positive, which means that the price will reach newer heights in the short term.
Conclusion
Our Fantom price prediction will be concluded on a bullish note overall. Fantom has shown outstanding growth in recent days when it comes to cryptocurrency growth, which makes it a very profitable investment.
If you are still learning about cryptocurrencies, you can find several guides here.
