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Fantom (Migrated to Sonic)

<p>Over the past month, <a href="https://captainaltcoin.com/why-is-fantom-ftm-price-up/" target="_blank" rel="noopener noreferrer nofollow">Fantom (FTM)</a> values have surged with the token surging by 50%. Recent statistics, however, indicate a possible slowing down in this increasing tendency, which calls into doubt FTM’s price momentum’s sustainability.</p>
<p>Per CoinGecko data at press time, <a href="https://www.coingecko.com/en/coins/fantom" target="_blank" rel="noopener noreferrer nofollow">FTM trades at $0.4846</a>. The token has seen a daily trading volume of $286,462,423, accompanied by a slight decrease of 0.12% in the last day. Despite this setback, FTM has maintained a strong 25.11% price rise over the week.</p>
<p>Crypto analysts and traders have taken note of FTM’s price action, sharing their perceptions on the token’s short-term prospects. Some believe the current price levels may represent a potential bull trap, while others see further room for growth.</p>
<h2 class="wp-block-heading" id="strong-is-ftm-s-price-surge-a-bull-trap-strong"><strong>Is FTM’s Price Surge a Bull Trap?</strong></h2>
<p>Crypto analyst @CryptoJobs3 shared insights on X suggesting a cautious approach to FTM’s current price levels. The analyst pointed out that FTM is currently trading at a resistance level between $0.500 and $0.5050, with a bearish divergence visible on the hourly Relative Strength Index.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$FTM</a> Bullish, but at resistance! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>I think that it's a possible bull trap around 0.500 $ – 0.5050$<br><br>I see a Bear div RSI [H1]. <br><br>A correction is possible; the price could revisit the 0.470 – 0.4650$ ! <br><br>In case of anoother breakout, upper big resistance: <br>0.5200$ <br><br>The… <a href="https://t.co/YQD1uh4GdF" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/YQD1uh4GdF</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9.png" alt="🧙" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto_Jobs <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9-200d-2642-fe0f.png" alt="🧙‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"> TA &amp; FA <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoJobs3) <a href="https://twitter.com/CryptoJobs3/status/1833576292614291477?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 10, 2024</a>
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<p>@CryptoJobs3 noted the possibility of a price correction, with potential support levels around $0.470 to $0.4650. However, the analyst also highlighted a bullish outlook on the weekly timeframe, suggesting a potential mid-term target range of $0.5800 to $0.600.</p>
<p>Given the <a href="https://m.economictimes.com/markets/cryptocurrency/cryptocurrency-prices-on-september-11-bitcoin-falls-below-56800-ahead-of-us-inflation-data/amp_articleshow/113255596.cms" target="_blank" rel="noopener noreferrer nofollow">current market conditions</a>, the analyst advised against taking long positions at current levels, recommending instead to wait for potential dips before entering the market.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-internet-computer-icp-price-pumping/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is Internet Computer (ICP) Price Pumping?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-bullish-chart-patterns-strong"><strong>Bullish Chart Patterns</strong></h2>
<p>Contradicting the cautious sentiment, another prominent analyst, @Nebraskangooner, identified a potentially bullish chart pattern for FTM. On the weekly timeframe, the analyst also pointed out a positive view suggesting a possible mid-term goal range of $0.5800 to $0.600.</p>
<p>The expert cautioned against initiating long positions at present levels given the state of the market. Besides, ihe advised waiting for possible declines before entering the market.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$FTM</a> (per request)<br><br>HUGE inverse head and shoulders formation here.<br><br>Still needs to break resistance but nice upside potential if it's able to reclaim the neckline. <a href="https://t.co/Eb3Zkh9qcf" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Eb3Zkh9qcf</a></p>— Nebraskangooner (@Nebraskangooner) <a href="https://twitter.com/Nebraskangooner/status/1833586789128540344?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 10, 2024</a>
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<p>In technical analysis, an inverted head and shoulders pattern is sometimes regarded as a bullish reversal indicator. Should FTM surpass the neckline of this formation, it may set off a fresh wave of buying enthusiasm.</p>
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<p>The post <a href="https://captainaltcoin.com/fantom-ftm-price-pumps-50-but-is-this-a-bull-trap/" rel="noopener noreferrer nofollow">Fantom (FTM) Price Pumps 50%, But Is This a Bull Trap?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Fantom (FTM) Price Pumps 50%, But Is This a Bull Trap?

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