2024-12-6 23:00

Prominent analyst Crypto Rand sparked discussion on X (formerly Twitter) by asking when FTM might hit $2, as it is seeing a strong bullish momentum. With FTM’s price trading near key resistance levels, market participants are monitoring its next move.

FTM has climbed steadily since mid-year, breaking through resistance points along the way. The price keeps setting higher peaks and valleys, showing solid upward movement. After dipping in mid-2024, FTM bounced back and pushed through technical barriers.

The price of FTM recently hit resistance between $1.40-$1.70, which slowed but didn’t stop its rise. FTM is now hovering below $1.70, with market watchers looking toward $2 as the next big target. This bullish trend matches the broader crypto recovery and growing activity in Fantom’s network.

Support Levels Reinforce Bullish Sentiment

Key support levels have emerged during FTM’s rally, providing a cushion against potential pullbacks. The $1.20 mark, previously a resistance zone, has turned into a strong support level. Below that, the $0.95–$1.00 range has proven to be a solid base, supporting the token during earlier consolidations. Lower levels, such as $0.65–$0.70, marked critical turning points during FTM’s mid-year reversal.

Traders see these zones as essential areas to maintain momentum. Combined with moving averages acting as dynamic support, the token’s current price structure supports its bullish trajectory.

Read Also: Market Analyst Says Litecoin (LTC) Price Run to Break Prior High Has Begun—Here’s the Outlook

Technical Patterns and Breakouts Drive Optimism

The chart shows a series of breakouts, reinforcing the strength of FTM’s bullish trend. Horizontal lines indicate key support and resistance zones, which have been decisively tested and breached in recent months. Each pullback has respected short-to-mid-term moving averages, signaling sustained buying pressure.

Image Source: X/Crypto-RAND

Market participants are particularly focused on whether FTM’s price can break above the $1.70 resistance. A strong breakout above this level would position the token to challenge the $2 mark.

Crypto Community Speculates on $2 Milestone

Crypto Rand’s tweet has sparked discussions about FTM’s potential timeline for reaching $2. The influencer’s statement, combined with the current market structure, reflects growing confidence in Fantom’s continued rally. However, while market optimism runs high, traders remain cautious about any unexpected retracements at current levels.

As Fantom’s price consolidates near its recent highs, the coming weeks could determine whether the token achieves the highly anticipated $2 milestone. For now, both technical indicators and market sentiment point to a bullish outlook.

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The post Fantom Price Hits Key Resistance: Can FTM Reach $2 Soon? appeared first on CaptainAltcoin.

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