Price Analysis for Fantom (FTM) Suggests it may hit $3.23 or $1.54
The price analysis for Fantom (FTM) from TradingView shows its price is currently visiting a price worth $2.24 per FTM. The data shows that FTM has experienced a 1.88% surge in its price in the past 24-hours. Even in the past 7-days, Fantom’s price has grown at a significant rate, observing a 61.41% surge.
In the light of the recent surge in the price of FTM, the overall sentiments for FTM have turned bullish. This would mean that the investors are highly likely to buy FTM than sell it or remain neutral.
Even the demand scale for Fantom shows that the investors’ interest is moving towards the “strong-buy” zone. Therefore, in the upcoming days, the bulls may be able to launch a strong rally, accumulating large quantities of FTM.
The demand scale shows that the sell:neutral:buy ratio currently stands at 1:1:13. The trend suggests that more investors will continue pouring in money to acquire more FTM and push FTM’s price higher than the current price.
The performance chart from TradingView shows that the bulls may try and push FTM’s price over the $2.65 figure. The bulls may do it by launching a strong rally and pushing the bears further into a cornering.
Given the current situation of FTM, it is expected that the $2.65 per FTM mark won’t be posing much resistance for the bulls. From the particular mark, the bulls will attempt to launch another rally to push FTM’s price higher. Their next target would be to push the price of FTM over the $2.95 per FTM mark.
The $2.95 mark is the next strong resistance point for FTM and the bulls may have to push with their strong rally to go higher. If the bulls do manage to push FTM’s price higher, they will be able to push its price over the $3.23 per FTM figure.
On the other influence, the bears may endeavor to bring the value of FTM lower than the current price. They may launch the first selling rally against FTM to bring its price below the 100-day SMA ($2.03 per FTM).
If the bears manage to do it, which is highly unlikely for them, they may be able to lower the confidence of the bulls. From that point, the bears may attempt to pull FTM’s price even lower, bringing it down to 30-day SMA ($1.71 per FTM).
In case the bears are able to make it happen and pull FTM below the $1.71 price, they may make the bulls lose confidence. That way, the FTM sentiments may turn bearish and another plunge would be in reach of the bears.
At this point, if the bears exert more pressure, they may be able to deal a huge blow to FTM, bringing it down to $1.53 per FTM.
