Fantom’s 18% Spike May Only Be the Beginning as FTM Bulls Target Massive Breakout at This Price
Fantom (FTM), a leading smart contract platform, has seen a surge of 18% over the past week. As bullish momentum builds, analysts are predicting a major breakout is on the horizon.
Fantom aims to solve scalability issues holding back other blockchains, using a directed acyclic graph (DAG) structure to achieve sub-two second transaction speeds. The open-source platform offers decentralized finance (DeFi) capabilities and facilitates easy porting of apps from other chains.
Recent Fantom Growth As crypto investor Rajat Raj (@RAJAT_RAJ19) tweeted this week, “$FTM is doing crazy things. Soon it’s going to be adopted widely.” Propelled by growing developer and user adoption, Fantom’s native token has seen powerful growth.
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Show more +The Next Leg Up Now analysts believe FTM is poised for its next major price leap. Cryptocurrency trader Dom (@Doms_Crypto) flagged a bullish technical sign emerging for the blockchain token: “$FTM with an imperfect ‘Cup & Handle’ Breakout to the upside imminent?” Based on the chart pattern, he identified $0.41 as the key breakout trigger point.
This target aligns closely with another trader’s view. “Once $FTM breaks 0.4046 .. it will fly,” tweeted analyst Fido X (@CryptoFido). After an unsuccessful test of the $0.40 level in October, FTM pulled back but appears ready to rechallenge this resistance. A decisive break above $0.40 could see Fantom catapult higher.
With momentum accelerating and analysts eyeing a coming breakout, Fantom seems set to continue shaking up the smart contract platform landscape. Its speed, efficiency and rapid adoption look likely to drive FTM ever higher.
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