Fantom Surges 24% as Selling Pressure Eases, Paving the Way for a Bullish Breakout2-min read

Highlights

• Fantom (FTM) jumps 24%, breaking through critical resistance at $0.83, with potential to target $1.03 in the coming weeks.
• Active investor profitability hits a historic low of 10%, reducing selling pressure and enabling price recovery.
• Maintaining $0.83 as support is crucial; a failure could see retracement to $0.76 or further declines to $0.66.

Fantom Price Recovery Signals New Optimism

Fantom (FTM) investors have regained confidence after the cryptocurrency posted a sharp 24% rise within a single day. This recovery comes on the back of eased selling pressure, marking a potential turning point for the altcoin after a month of significant declines.

The recent surge propelled Fantom beyond the $0.83 resistance level, a critical price point for the altcoin’s bullish trajectory. Holding above this level remains pivotal for sustaining momentum and avoiding a reversal.

Fantom’s Road to Stability

Over the past week, 37 million FTM tokens moved onto exchanges, representing $31 million in transactions as investors rushed to lock in profits. While such movements often signal uncertainty, the subsequent decline in selling activity has opened the door for a price rebound.

Data from blockchain analytics firm IntoTheBlock reveals that only 10% of active Fantom addresses are currently profitable—a record low. Historically, periods of low profitability discourage selling, as holders are less likely to liquidate their positions at a loss. This trend has reduced market pressure, aiding Fantom’s recent recovery.

Critical Resistance Levels Ahead

Currently trading at $0.84, Fantom faces a critical test at its $0.83 support level. Successfully maintaining this level could enable the cryptocurrency to recover losses incurred during December’s downturn, which wiped out 52% of its value.

Should FTM sustain its upward momentum, the next target lies at $1.03—a key psychological and technical level. Breaking this threshold would restore investor confidence and signal a broader recovery, attracting renewed interest from the market. Those looking to buy Fantom (FTM) need to act fast and monitor the immediate future for any sudden shifts. 

The Risk of Reversal

While Fantom’s recovery is promising, risks remain. A failure to hold $0.83 as support could trigger a retracement to $0.76, wiping out some of the recent gains. Further declines to $0.66 could follow if bearish sentiment resumes, underscoring the importance of sustained upward momentum.

FTM’s Path Forward

Fantom’s price surge reflects improving market sentiment after weeks of uncertainty. Reduced selling pressure, coupled with the potential for a broader market recovery, provides a solid foundation for FTM’s bullish outlook. However, holding critical support levels and breaking through resistance at $1.03 will be crucial for sustained growth.

Investors are advised to monitor market dynamics closely as Fantom navigates this critical juncture.

It is of crucial importance to inform yourself as much as possible before making any investment decisions. Refer to our HOW TO BUY FANTOM (FTM) guide for a comprehensive breakdown. 

Disclaimer:

This article is for informational purposes only and does not constitute financial advice. Always consult with a professional before making any investment decisions. Market conditions are subject to change, and past performance is not indicative of future results.