Phantom price is on the rise, up nearly 6% in just one day and up more than 10% in the last few sessions. This sudden surge has caught the attention of investors and traders as Fantom continues to show strong momentum in the cryptocurrency market. Let’s find out what’s driving this upward trend and what it could mean for Fantom moving forward in this direction. Fantom price forecast article.
How has the price of Fantom (FTM) changed recently?
Fantom’s price is currently $0.512702, has a 24-hour trading volume of $809.83 million, a market capitalization of $1.44 billion, and a market dominance of 0.07%. Over the past 24 hours, the FTM price has increased by 6%.
Fantom reached its all-time high of $3.47 on October 28, 2021, and its lowest point was recorded on March 13, 2020, at just $0.001762. Since its peak, the lowest price Fantom reached was $0.164761 (cycle low) and the highest bounce was $1.21957 (cycle high). The current sentiment on Fantom’s price forecast is bullish, with the fear and greed index at 39, indicating fear in the market. Fantom has a circulating supply of 2.80 billion FTM, with a maximum supply of 3.18 billion FTM.
Why has the price of Fantom increased?
Fantom’s price is rising due to strong market momentum, as evidenced by consistent green candles and no significant pullbacks. This bullish behavior indicates that buyers are confidently raising the price without encountering serious resistance at current levels.
If Fantom can break out of its recent highs, it could target the $0.60-$0.65 range, representing a potential 30% increase from its current value. Historically, during bullish phases, assets such as FTM tend to experience rapid price increases with only short pauses in between, suggesting further upside potential if the trend continues.
Looking ahead, Fantom’s upward move is likely driven by a combination of positive sentiment, increased trading volume and the broader market recovery. If external factors such as overall market conditions and investor confidence remain favorable, Fantom could see sustained growth.
However, the key will be whether it can maintain this momentum and break through key resistance levels without lengthy pullbacks. If this succeeds, the $0.60-$0.65 price target could be within reach, setting the stage for further gains in the near future.
How high can the price of Fantom (FTM) go?
Fantom (FTM) has seen impressive growth, with its price up 164% over the past year, outperforming 79% of the top 100 crypto assets and even surpassing the gains made by Bitcoin and Ethereum. Fantom’s technical outlook, trading above the 200-day simple moving average, is bullish and suggests a strong uptrend that could continue.
The fact that there have been 17 green days (57%) in the last 30 days reinforces this positive trend. In addition, Fantom has high liquidity relative to its market capitalization, indicating sufficient market interest and investor activity to support further price growth.
Looking at how high Fantom’s price can rise, its performance has been remarkable compared to the token sale price. While it is still 85% below its all-time high of $3.47, the sustained rise and current momentum suggest a recovery is well underway.
If FTM maintains its upward trajectory, the next price target could be in the range of $0.60 to $0.65, representing a potential gain of 30% from current levels. Additionally, if Fantom continues to outperform major crypto assets and maintain its positive trend, it could challenge the $1.00 mark in the long term, especially if the broader market enters a sustained bullish phase. However, breaking through key resistance levels will be critical to Fantom’s ability to reach those higher targets.
