Phantom Hits $1.08: What does the 63% rally and 18-month enhance in exercise imply?

• FTM up 63%, with highest exercise in 18 months, testing key resistance at $1.22.
• Bullish momentum continues as FTM turns $1.02 into crucial assist.
• A break above $1.22 may result in $1.49, whereas a failure dangers a return to $0.86.

Fantom (FTM) has rallied, gaining 63% over the previous six days to achieve $1.08 on the time of writing. This upward momentum coincides with a rise in each day energetic addresses on the community, which reached its highest stage in almost 18 months.

In accordance with Santiment information, Fantom recorded 2,132 distinctive each day energetic addresses making transfers on the Twenty fourth-Twenty fifth. november This enhance surpasses earlier exercise peaks, such because the 1,489 addresses recorded on 22–23 December 2023 and a couple of,040 addresses recorded on 19-20 March 2024.

Traditionally, such exercise signaled short-term worth peaks, with corrections typically following when the thrill died down. These patterns recommend that Concern of Lacking Out (FOMO) amongst merchants causes non permanent will increase in utility. It stays to be seen whether or not Fantoma's present rally will proceed.

FTM Value and Market Metrics

FTM presently trades at $1.08, giving it a market cap of $3.02 billion. Its 24-hour buying and selling quantity is $1.35 billion, up 53.39% from the day prior to this.

The weekly FTM chart exhibits bullish momentum, with worth breaking above all key exponential transferring averages (EMA 20/50/100/200). The present worth 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) are exhibiting a widening hole, reinforcing bullish sentiment.

Nonetheless, the Relative Power Index (RSI) is at 66.06, indicating that FTM is approaching overbought circumstances. Which means FTM's bullish momentum could possibly be waning. The cryptocurrency sharply breached the important thing 78.6% Fibonacci retracement stage at $1.02, making it a crucial assist space.

Nonetheless, the token is dealing with a resistance stage of $1.22, a zone final seen on March 18. If FTM breaks this stage, it might see additional positive factors. If $1.22 fails, a drop to $0.86 is feasible – according to the 61.8% Fibonacci retracement stage. Alternatively, with sustained development, the token may attain $1.49, which coincides with the 127.20% Fibonacci extension.