bullish

Bitcoin

Fantom (Migrated to Sonic)

Gains

<ul class="wp-block-list"> 
 <li>Fantom (FTM) has risen over 13.4% in the past 24 hours, moving from $0.4389 to $0.4963.</li> 
 <li>Still, FTM is trading below a key resistance level at $0.55, which has been significant since early 2024.</li> 
</ul> 
As <a href="https://thenewscrypto.com/bitcoin-faces-resistance-at-59k-amidst-market-fluctuations/" target="_blank" rel="noreferrer noopener">Bitcoin</a> (BTC) climbs to the $58,000 mark, the positive sentiment in the crypto market is boosting other cryptocurrencies, including Fantom (FTM). In the last 24 hours, FTM has surged by over 13.4%, climbing from a low of $0.4389 to a high of $0.4963 and tops the gainers list. 
Despite this significant increase, FTM is still trading below a crucial resistance level at $0.55. This <a href="https://thenewscrypto.com/fantom-ftm-outpaces-major-crypto-players-with-16-jump/" target="_blank" rel="noreferrer noopener">horizontal resistance</a> has been significant since early 2024. At the time of writing, Fantom traded at $0.4855, the level seen on August 26. Additionally, the daily trading volume of FTM soared over 45% to $188 million. 
<h2 class="wp-block-heading" id="h-ftm-technical-indicators-point-to-potential-breakout">FTM Technical Indicators Point to Potential Breakout</h2> 
Looking at the weekly chart, FTM is up more than 17%, and its monthly gains are around 40%. According to the technical indicator, the price currently stands above its simple moving average (SMA), indicating a positive trend.&nbsp; 
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 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcDZIEdANFHgo1qZMtxyn3ZL-Y1pYFC06UtgvPPnzMBGqc_RTqhEKWE86-eLwgMecdz3DkIKNSYOg0XeSLD_6GCqzAUJLGS4_qZbgJylWimlHzIU5nt5Oyluf1pY4YfHRh38uK1RQQG-rjjtpgMgvzEQLc?key=m9QNlk50QJ2gnKICVzW9Fw" alt="">
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Fantom (FTM) Price Chart (Source: <a href="https://in.tradingview.com/symbols/FTMUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">TradingView</a>) 
Additionally, the Relative Strength Index (RSI) is nearing the overbought zone at 77, while the moving average convergence divergence (MACD) shows a bullish crossover between the 12-day and 26-day EMAs. 
These indicators suggest that a breakout above $0.55 could confirm a sustained upward trend, potentially pushing FTM towards the $1 mark. Such a move would likely trigger further rallies. 
However, if FTM were to face resistance and not break through the $0.55 level, it could test the $0.40 support area once again. A rebound from this level, creating a higher low, would indicate strength in the market. 
The outcome of this resistance test will be crucial in determining the future direction of FTM’s price. For a detailed long-term forecast, check out the full <a href="https://thenewscrypto.com/fantom-ftm-price-prediction/" target="_blank" rel="noreferrer noopener nofollow">Fantom (FTM) Price Prediction</a>. 
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Fantom (FTM) Sees 13% Gains as Crypto Market Turns Positive

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