- Fantom’s price surge is supported by strong network growth and key resistance targets near $1.50.
- Technical indicators and market sentiment highlight cautious optimism for sustained bullish momentum.
Ghost (FTM) has attracted attention with a spectacular rise of 23.13% in the last 24 hours, taking its price to $1.07 at press time.
This impressive growth, fueled by increasing network adoption and positive on-chain metrics, begs the question: Is Fantom on track to lead a broader crypto market rally in the coming weeks?
Phantom Chart Analysis: Price Movement, Key Levels and Targets
Fantom’s chart reveals a robust bullish structure, with the price surpassing the critical $1.00 level, now acting as strong support. The next resistance lies at $1.14, a key psychological and technical level.
Additionally, if momentum continues, FTM could test resistance at $1.50, a break above which could confirm a sustained rally. However, traders should remain cautious of a potential retracement as support at $0.84 aligns with a long-standing ascending trendline.
Therefore, maintaining current momentum is crucial for Fantom to achieve these ambitious goals.
Source: TradingView
Network growth metrics signal significant user interest. New addresses jumped 73.68% last week, while zero-balance accounts increased 55.47%. This demonstrates strong adoption as more users join the ecosystem.
Additionally, the increase in activity reflects the growing confidence in FTM, which directly supports the current price rise. As adoption trends remain positive, they could lead to sustained growth in the token’s value.
Source: In the block
On-Chain Signals: Bullish or Cautious?
FTM’s on-chain signals present a mostly bullish outlook. The net growth of the network stands at +0.54%, confirming regular expansion. However, the “In the Money” indicator fell -1.23%, suggesting slight profit-taking by investors.
On the other hand, large transactions increased by 0.50%, indicating that institutional and high-value transactions continue to support the uptrend. Therefore, although short-term caution remains, the overall outlook remains positive.
Source: In the block
FTM Technical Indicators: Volatility and Dynamics
Fantom technical indicators suggest increasing volatility and momentum. The Stochastic RSI stands at 3.71 and 3.29, signaling oversold conditions with potential for further upward movement.
Additionally, FTM price is near the upper Bollinger band at $1.22, reflecting bullish pressure, while the lower band at $0.98 offers support. However, breaking through the $1.14 resistance remains crucial to unlock higher targets such as $1.50.
Source: TradingView
The long/short ratio for FTM reveals cautious optimism. While 52.82% of traders are short, 47.18% remain long, showing a balance between bullish and bearish expectations.
This ratio reflects mixed sentiment, with traders weighing the possibility of continued gains against the risk of short-term corrections.
Source: Coinglass
Read Fantom (FTM) Price Prediction 2024-25
Fantom looks set to lead the next market rally. Its strong price momentum, network adoption, and bullish signals collectively suggest that FTM is well-positioned for continued growth, provided key resistance levels are breached.
