Elite

Sherpa

Fantom (Migrated to Sonic)

<p>Fantom is one of those altcoins that has been performing impressively during this bull cycle. Altcoin Sherpa and Santiment have updated their outlooks regarding the FTM price, offering intriguing insights into its potential trajectory.</p>
<p>The recent analysis of Fantom by Sherpa reveals a compelling narrative of accumulation, breakout, and potential growth.</p>
<h2 class="wp-block-heading" id="fantom-ftm-price-analysis">Fantom (FTM) Price Analysis</h2>
<p>Over the past two years, the FTM price has demonstrated a consolidation phase, trading steadily between $0.1940 and $0.5222.</p>
<p>This prolonged period, characterized by low volatility and consistent trading volume, aligns closely with the Wyckoff accumulation theory, where smart money gradually builds positions before a potential breakout.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="645" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-1024x645.png" alt="" class="wp-image-588515" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-1024x645.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-300x189.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-767x483.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-1536x967.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-2048x1289.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-238x150.png 238w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-100x63.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-556x350.png 556w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946-788x496.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-946.png 1390w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong>Source:<a href="https://x.com/AltcoinSherpa/status/1861635989682204762" target="_blank" rel="noopener noreferrer nofollow"> X/@AltcoinSherpa</a></strong>
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<p>The $0.1940 level represents a strong historical low, serving as a robust long-term support zone. As the price broke through the mid-range support of $0.5222, it signaled a potential bullish trend reversal. Currently,<a href="https://captainaltcoin.com/analyst-updates-fantom-ftm-price-predictions-for-january-2025-and-bull-run-peak/" target="_blank" rel="noopener noreferrer nofollow"> the Fantom price is testing</a> the resistance zone at $1.1335, a level that previously acted as support during its parabolic run in late 2021.</p>
<p>The recent price action shows increased volume during the breakout, confirming growing bullish sentiment. If FTM successfully breaks through the $1.1335 resistance, the next potential target could be in the $2.50–$3.00 range. This breakout suggests that Fantom is aligning with the broader market cycle, where altcoins tend to follow Bitcoin’s macro trend.</p>
<h2 class="wp-block-heading" id="on-chain-analytics-and-the-fantom-price-pump">On-Chain Analytics and the Fantom Price Pump</h2>
<p>Santiment’s analysis provides additional context to Fantom’s price movements. The cryptocurrency has surged an impressive 63% in just six days, rising from around $0.70 to $1.10. This rapid appreciation is accompanied by a notable increase in network activity, particularly in daily active addresses.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> Fantom has been on an impressive tear, pumping +63% in the past 6 days. A familiar surge in daily active addresses has formed on the network, as FOMO appears to be peaking. Historically, these utility spikes from new traders leads to tops. When active addresses fall, a solid… <a href="https://t.co/jGrpfZqTt3" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/jGrpfZqTt3</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1861660905811182066?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 27, 2024</a>
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<p>However, analysts caution that such spikes in activity often correlate with market tops. The surge in daily active addresses suggests growing speculative interest, potentially driven by the Fear of Missing Out (FOMO).</p>
<p>Interestingly, the data suggests investors should monitor the potential decline in active addresses as a potential signal for re-entry at lower prices. This strategy could provide an opportunity for more calculated market entry.</p>
<p>Several fundamental aspects continue to support Fantom’s positive narrative. The involvement of developer Andre Cronje lends credibility to the project. <a href="https://www.coingecko.com/learn/sonic-labs-airdrop" target="_blank" rel="noopener noreferrer nofollow">The Sonic rebrand</a> and reduced venture capital sell pressure have positioned FTM favorably in the competitive crypto landscape.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/bitcoin-trading-volume-continues-at-record-high-despite-ongoing-dip-is-a-btc-price-reversal-imminent/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Trading Volume Continues at Record High Despite Ongoing Dip: Is a BTC Price Reversal Imminent?</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/fantom-ftm-price-pumps-theres-a-lot-to-like-says-elite-crypto-analyst/" rel="noopener noreferrer nofollow">Fantom (FTM) Price Pumps: ‘There’s a Lot to Like,’ Says Elite Crypto Analyst</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Fantom (FTM) Price Pumps: ‘There’s a Lot to Like,’ Says Elite Crypto Analyst

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