Ethereum
$ 1,101.78 3.99%
Solana
$ 34.02 4.31%
Dogecoin
$ 0.069321 4.00%
ApeCoin
$ 4.73 4.45%
Bitcoin
$ 20,132.00 0.94%
BNB
$ 219.85 3.49%

Fantom Price Analysis: FTM swiftly moves back to $2.45 all-time high, breakout to follow?

Fantom Price analysis

TL;DR Breakdown

  • 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.

Fantom Price Analysis: FTM swiftly moves back to $2.45 all-time high, breakout to follow? 1
Cryptocurrency heat map. Source: Coin360

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 Analysis: FTM moves back to $2.45 previous all-time high, breakout to follow?
FTM/USD 4-hour chart. Source: TradingView

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.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

Related News

Hot Stories

Polkadot price analysis: DOT continues to decline with low of $7.06 recorded
Bitcoin price analysis: BTC touches $19,775 as bears threaten another sharp pullback
Bitcoin, Binance Coin, Polygon, and Uniswap Daily Price Analyses – 29 June Morning Price Prediction
Ripple price analysis: XRP swiftly retests $0.32, bottom found?
Three Arrows could be liquidated due to the crypto market's bearish streak

Follow Us

Industry News

Three Arrows could be liquidated due to the crypto market's bearish streak
Ronin bridge returns online after hack
Compass Mining loses Bitcoin mining facility for neglecting energy bill
Robinhood shares spike 14% on FTX rumored purchase report
US adults turn strong hands, predict Bitcoin at $38,000 on average in 6 months