Fantom (Migrated to Sonic)

Date: Wed, Nov 06, 2024, 04:55 AM GMTThe cryptocurrency market is shining today as Bitcoin (BTC) hits a new all-time high of $75,000, up 8% in just the last 24 hours. This surge seems driven by U.S. election sentiments, as crypto-supporter Donald Trump leads in early election results. The Associated Press shows Trump currently ahead with 230 electoral votes, compared to Kamala Harris’ 210 votes as of the latest updates.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a9e46c58cf924845a8eb817361060809.png" />Source: <a href="https://apnews.com/ap-elections-explained" rel="noopener noreferrer nofollow">AP</a>A minimum of 270 electoral votes is needed to claim victory, but this lead has already fueled a significant rally across the crypto market.Among the beneficiaries of this bullish momentum are top Layer-1 tokens Sui (SUI), Fantom (FTM), and Sei (SEI), all seeing impressive double-digit gains. <a href="https://coinsprobe.com/sui-hits-26b-dex-volume-sparking-a-green-run-are-more-gains-coming/" rel="noopener noreferrer nofollow">SUI </a>has surged by 20%, with FTM and SEI following similar bullish patterns. Let&#39;s break down the technical outlook for each of these tokens.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c55e28f54b894c65b9c1956400ec1d65.png" />Source: Coinmarketcap<h2 id="header-0">Sui (SUI)</h2>Sui has surged past the $2.16 breakout level, currently trading around $2.28. The breakout signals strong upward momentum, especially with support (S) near $2.01 holding firm. The next major resistance (R) level is at $2.36, and if bullish momentum continues, SUI could reach its all-time high (ATH) levels soon.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/372af1080512432dad2a4511d8bcce6a.png" /><ul><li>Technical Outlook: SUI&#39;s Relative Strength Index (RSI) is above 80, indicating it&#39;s in overbought territory. However, with strong market support, this uptrend may continue, especially if bullish sentiments persist around the U.S. election.</li></ul><h2 id="header-1">Fantom (FTM)</h2>Fantom is trading around $0.65 after bouncing off support near $0.53. It is currently on the verge of breaking out of an descending channel pattern, a formation that has been holding steady over the past few weeks. A breakout above the upper boundary of this channel could signal further upside momentum, potentially taking FTM toward the next resistance (R) level at $0.80.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/baf68dac9d5d47f8a4a598d07315126d.png" /><ul><li>Technical Outlook: FTM’s RSI is approaching 66, showing growing bullish interest but not yet in overbought territory. If FTM successfully breaks out of the channel, it may ignite a stronger rally towards $0.90. This breakout would align with the broader bullish trend fueled by market-wide optimism.</li></ul><h2 id="header-2">Sei (SEI)</h2>SEI is trading around $0.38 and is also on the verge of breaking out from a descending channel pattern that has confined its price movement recently. If SEI can push above this channel&#39;s upper boundary, it may set the stage for a bullish breakout, with resistance (R) at $0.4180 in sight and a potential target (T) of $0.50.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/fac5958a7cff425fa6202d80c893b4b3.png" /><ul><li>Technical Outlook: SEI’s RSI is around 65, indicating room for upward movement without reaching overbought conditions. A confirmed breakout from this descending channel could trigger renewed buying interest, potentially taking SEI to new local highs.</li></ul><h3 id="what-to-expect-ahead">What to Expect Ahead?</h3>The charts for all three tokens—SUI, FTM, and SEI—are looking bullish, with FTM and SEI mirroring SUI&#39;s price action. If Donald Trump’s lead solidifies and he wins the presidency, the crypto market could see another wave of buying pressure, driving prices even higher for these Layer-1 tokens. Investors should keep an eye on upcoming election updates, as a confirmed Trump victory may trigger a substantial rally in the hours ahead.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/top-ai-tokens-fet-tao-and-near-reclaim-bullish-momentum-is-a-recovery-rally-on-the-horizon/" rel="noopener noreferrer nofollow">Top AI Tokens FET, TAO, and NEAR Reclaim Bullish Momentum: Is a Recovery Rally on the Horizon?</a>

Top Layer-1 Tokens SUI, FTM, and SEI Leads Rally With Double Digit Gains—What To Expect Ahead?

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