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- 1 The Fantom coin price witnessed a consistent up move and is close to the $1 mark.
- 2 Buyers have persisted in accumulation and are showing their dominance.
The Fantom coin price persisted in forming the higher high swings and has delivered a rally for the past weeks. The FTM price has surged by over 90% this month and is still on the way to reaching the blue sky zone. Moreover, the coin has glimpsed follow-on buying momentum, and sellers are staying on the back foot. The trend is intact, and the coin may soon cross the round mark of $1.
At press time, the Fantom coin (FTM) price was trading at $0.1966 with an intraday gain of 7.01%, reflecting buyer accumulation on the charts. It has a monthly return ratio of 49.10% and 123.78% on a yearly basis. The pair of FTM/BTC is at 0.0000151 BTC, and the market cap is $1.66 Billion. Analysts are neutral and suggest the FTM coin may continue to extend the gains and will continue to skyrocket in the upcoming sessions.
Fantom Reveals Buyer Accumulation; Can FTM Reach $1.20 This Month?
The above data shows that the coin has persisted in delivering steady up move and has witnessed bull accumulation in the past sessions. Furthermore, the coin revealed bullish strength, with a notable surge of over 35% this week to $1.41 billion. The technical indicators still showcase a buy signal, and the coin may persist in extending the bullish waves for the following sessions.
Price Volatility and Weighted Sentiment Analysis
Per the Santiment data, the FTM coin price revealed a notable surge of over 90% this month, showing outperformance on the charts. Furthermore, the volatility curve witnessed a spike of over 56% to 0.37. The total weighted sentiment data stayed in the positive region and is delivering a neutral outlook.
Social Dominance and Development Activity
The social dominance data revealed a decline of over 90%, and the value declined to 0.153%, signifying the drop in investor interest. However, the development activity is on a rising track and has spiked over 30% to 0.286 this week. The on-chain metrics signify the neutral observations and suggest an optimistic outlook.
What Do Technical Indicators Suggest?
The derivative data showcase the short-covering move, and the open interest dropped by over 22% to $146.33 million, revealing that buyers have continued to put effort into stretching the gains. Furthermore, the trend favors the bulls, and further buying momentum can soon exceed the $1 mark.
The Relative Strength Index (RSI) curve stayed in the overbought zone and showcased the positive divergence on the charts. Moreover, the MACD indicator shows a bullish crossover and formed green bars on the histogram, suggesting a positive outlook for the upcoming sessions.
The Total supply of the FTM coin is 1.74 billion, and the volume-to-market cap ratio is 0.856. Per the Fib levels, the coin has sustained above the 61.8% zone and is showing an uptrend.
Summary
The Fantom coin (FTM) price has given a consistent up move and delivered the higher high swing for the past weeks. Amidst the neutral market sentiments, the coin has not taken a pause and keeps rising, signifying the bullish sentiment.
Technical Levels
Support Levels: $0.9360 and $0.9200
Resistance Levels: $1.10 and $1.20
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
