- The price of FTM has risen by more than 135 in the last 24 hours alone.
- The token must first break above the $0.49 barrier to sustain its uptrend.
Phantom (FTM) It has surprised investors with its massive rise over the past 24 hours. This happened while the top coins only saw a slight increase. Let’s take a closer look at the Fantom price prediction.
Phantom’s latest bull move
Fantom’s bulls have surprised investors as the token’s price has surged by double digits. To be precise, the price of FTM has surged by over 13% in the last 24 hours.
At the time of writing this article, FTM transaction The price is $0.486 and the market cap is over $1.3 million.
AMBCrypto takes a look at IntoTheBlock data It turns out that 44.8k Fantom addresses were profitable, which is over 40% of the total number of FTM addresses.
We then looked at the token’s on-chain data to see what was helping the token grow by double digits. Interestingly, holders (addresses that have held FTM for over a year) showed a lot of interest in the token.
We found that holder concentration increased from 22% in 2022 to over 79% at the time of writing.
Source: IntoTheBlock
Will the FTM boom continue?
AMBCrypto checked Fantom’s on-chain data to see if the bullish rally will continue.
According to our analysis of the Santiment chart, buying pressure on the token has increased over the past few days. This is evident in the fact that supply on exchanges has decreased while supply off exchanges has increased.
The surge in FTM exchange outflows has shown the foundation for the recent bullish momentum. Additionally, whale activity around the token has also increased over the past week, evident in the surge in whale trades.
Source: Santiment
Fantom price prediction is…
Next, we looked at the daily chart of the token and saw what the market indicators were suggesting. The technical indicator MACD showed a bullish crossover.
The Money Flow Index (MFI) also showed an upward trend. These two indicators suggest that the bull market is likely to continue. For this to happen, FTM must first surpass $0.55.
If a break above that price occurs, the token could target $1.
Source: TradingView
read Fantom(FTM) Price Prediction 2024~2025
However, Fantom faced liquidation at $0.49. High liquidations usually lead to price corrections. Therefore, it will be important for the token to overcome the aforementioned barrier in order to target $0.55.
Source: Hyblock Capital