- The price of FTM has increased by more than 135 in the last 24 hours alone.
- The token must first break the $0.49 barrier to maintain the bullish trend.
Ghost (FTM) surprised investors with its meteoric rise over the past 24 hours. This happened while major coins only increased marginally. Let’s take a closer look at what’s going on with a Fantom price prediction.
Fantom’s Last Bull Blow
Fantom bulls caught investors off guard as the token’s price surged by over 10%. To be precise, FTM’s price has surged by over 13% in the last 24 hours.
At the time of writing, FTM was trade at $0.486 with a market cap of over $1.3 million.
AMBCrypto’s take on IntoTheBlock data revealed that 44.8k Fantom addresses were beneficiaries, representing more than 40% of the total number of FTM addresses.
We then checked the token’s on-chain data to find out what contributed to its double-digit growth. Interestingly, holders (addresses holding FTM for over a year) showed major interest in the token.
We found that holder concentration has increased from 22% in 2022 to over 79% at the time of going to press.
Source: IntoTheBlock
Will the FTM bullish trend last?
AMBCrypto then checked Fantom’s on-chain data to see if the bullish rally would last.
According to our analysis of Santiment’s charts, buying pressure on the token has increased over the past few days. This is evident from the fact that its supply on exchanges has decreased while its supply off exchanges has increased.
The increase in FTM outflows has shown the foundation for this recently acquired bullish momentum. Moreover, whale activity around the token has also increased over the past week, as evidenced by the increase in the number of whale transactions.
Source: Santiment
Fantom price predictions show…
Next, we looked at the token’s daily chart to find out what the market indicators were suggesting. The MACD technical indicator displayed a bullish crossover.
The Money Flow Index (MFI) also registered an increase. Both indicators suggest that the chances of the uptrend continuing are high. In this case, MFI must first break above $0.55.
A break above this level could allow the token to target $1.
Source: TradingView
Read Fantom (FTM) Price Prediction 2024–2025
However, Fantom was facing a liquidation at $0.49. Typically, high liquidations lead to price corrections. Therefore, it will be crucial for the token to break through the aforementioned barrier in order to target $0.55.
Source: Hyblock Capital
