- Fantom’s 600-day accumulation phase and technical patterns indicate a potential monumental leap in its price.
- Alex Clay forecasts short-term gains at $0.97, with long-term projections soaring to $12.5.
- The RSI indicator value of 69.51, which reads on the 4-hour chart, signifies that the coin is at an overbought territory.
Fantom, the native token of the Fantom network, currently is poised to surge. Alex Clay, a notable figure on the X platform, recently shed light on the promising trajectory of Fantom ($FTM). The analyst pointed out the coin’s substantial accumulation phase spanning 600 days, marked notably by a Double Bottom pattern. Moreover, the emergence of the Three White Soldiers pattern has stirred the crypto community’s interest. According to Clay, Fantom is not just on the rise; it’s a “sleeping giant” poised for a monumental leap.
At the time of writing, Fantom exchanged hands at $0.464838, boasting a significant 24-hour trading volume of $96,597,765. This marks a 3.00% increase in the last day alone. With a live market cap of over $1.3 billion, Fantom’s potential seems limitless. Its circulating supply stands at 2,803,634,836 FTM, edging close to its maximum of 3,175,000,000 FTM coins.
However, investors are eyeing the RSI on the 4-hour chart, which reads at 69.51. This suggests Fantom might be nearing overbought territory. Hence, a cautious approach is advisable, looking out for any reversal signals. Additionally, the MACD indicator shows a slight bullish momentum at 0.0113. Yet, confirmation from other indicators is crucial before making any decisive moves.
Clay’s optimism extends to Fantom’s future price targets. He envisions short-term gains reaching $0.97, with mid-term and long-term projections soaring to $2.46 and $5.7, respectively. Moreover, he foresees the market top, hitting an impressive $12.5, signaling unprecedented growth for Fantom.
Consequently, the crypto community is abuzz with anticipation. The blend of technical patterns and bullish sentiment underscores the growing confidence in Fantom’s market position.
This analysis brings a fresh perspective to Fantom’s market dynamics. It highlights not just the potential highs but also the need for strategic caution. As the crypto market evolves, Fantom’s journey offers valuable insights for investors looking to navigate its volatile waters.
