- Fantom price analysis is bullish today.
- FTM/USD saw a strong advance this morning.
- Fantom set a higher low at $2.15 yesterday.
Fantom price analysis is bullish today as a higher low has been set followed by strong advance in the morning. Therefore, we expect FTM/USD to break past the previous high at $2.45 over the next 24 hours.
The overall market trades with mixed results over the last 24 hours. The market leader, Bitcoin, has gained 0.29 percent, while Ethereum is down by 1.43 percent. Meanwhile, Fantom (FTM) is the top performer, with a gain of almost 10 percent.
Fantom price movement in the last 24 hours: Fantom sets higher low at $2.15, returns to previous high
FTM/USD traded in a range of $2.15 – $2.46, indicating strong volatility over the last 24 hours. Trading volume totals $617 million, down by 32.91 from yesterday, while the total market cap trades around $6.14 billion, ranking the coin in 33rd place overall.
FTM/USD 4-hour chart: FTM ready to break $2.45 previous high?
On the 4-hour chart, we can see Fantom price action moving back towards the previous swing high as bullish momentum has returned so far today, indicating that a break higher will follow today.
Fantom price action has seen a strong performance so far in October. After an initial spike higher on the 1st of October, FIL/USD got resisted by the $1.50 resistance.
However, after a several-day retracement to $1.30, bulls regained control, and a very rapid advance was seen over the next days. Fantom reached $2.45 on the 8th of October after a 90 percent rally and setting a strong new all-time high.
From there, FTM/USD saw another several-day retracement. Support was eventually found at $1.90 on the 16th of October. Since then, the Fantom price action has moved higher, setting a higher high at $2.30 and a higher low at $2.15 as bulls prepare to break the all-time high of $2.45.
Fantom Price Analysis: Conclusion
Fantom price analysis is bullish today as another move higher was followed after a higher low set at $2.15 yesterday. Therefore, FTM/USD is likely ready to continue setting new all-time highs.
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