Fantom Hits $1.08: What Does a 63% Rally and 18-Month Exercise Spike Imply?

• FTM surges 63%, with the best exercise in 18 months, testing key resistance at $1.22.
• Bullish momentum continues as FTM turns $1.02 into crucial help.
• A breakout above $1.22 may result in $1.49, whereas failure dangers a retrace to $0.86.

Fantom (FTM) has rallied, gaining 63% over the previous six days to succeed in $1.08 on the time of writing. This bullish momentum coincides with a spike in day by day lively addresses on the community, reaching its highest degree in virtually 18 months.

In keeping with Santiment’s knowledge, Fantom recorded 2,132 distinctive day by day lively addresses making transfers on November 24–25. This surge surpasses earlier exercise peaks, such because the 1,489 addresses logged on December 22–23, 2023, and the two,040 addresses famous on March 19–20, 2024.

Traditionally, such exercise has signaled near-term value tops, with corrections typically following as pleasure fades. These patterns recommend that Concern of Lacking Out (FOMO) amongst merchants drives short-term spikes in utility. It stays to be seen whether or not Fantom’s present rally will proceed.

FTM’s Value and Market Metrics

FTM is presently buying and selling at $1.08, giving it a market capitalization of $3.02 billion. Its 24-hour buying and selling quantity is $1.35 billion, up 53.39% from the day before today.

The FTM weekly chart reveals bullish momentum, with the value breaking above all key exponential shifting averages (EMA 20/50/100/200). The present value, at $1.08, is effectively above the 200-day EMA at $0.4628, confirming a stable uptrend. The 20-day EMA ($0.6928) and 50-day EMA ($0.6026) present a widening hole, reinforcing bullish sentiment.

Nevertheless, the Relative Power Index (RSI) is at 66.06, indicating that FTM is approaching overbought circumstances. This means that FTM’s bullish momentum may weaken. The cryptocurrency has surged previous the important thing 78.6% Fibonacci retracement degree at $1.02, turning it right into a crucial help zone.

The token, nonetheless, faces a resistance degree of $1.22, a zone final seen on March 18. If FTM breaks this degree, it may see further positive aspects. If it fails to interrupt previous $1.22, a pullback to $0.86—aligned with the 61.8% Fibonacci retracement degree—is feasible. Alternatively, a sustained rally may see the token attain $1.49, which coincides with the 127.20% Fibonacci extension.