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Fantom (FTM) crypto has been massively pumping over the last 24 hours moving up in price by over 30%. Euphoria and excitement hits the crypto markets once again as many major altcoins are printing green candles on the price charts.
Will Fantom (FTM) continue to pump and which other altcoins are looking promising for the next few months ahead?
Fantom (FTM) crypto has been trading sideways for quite some time between the price of $0.19 and $0.28 for a few weeks now. Currently the price of Fantom (FTM) crypto is $0.264 following positive price momentum over the last few hours.
Even though Fantom (FTM) crypto is still down by over 90% from the all-time high set in October 2021 I still think there might be good odds for a recovery by the next crypto bull run.
The current trading prices of Fantom (FTM) crypto are also nostalgic of the prices before the main parabolic bull run back in 2021, between May and July 2021.
This could reflect that the current undervalued price of Fantom (FTM) crypto is a major buy zone and could play off well when holding over the long-term until the next crypto bull run.
The chart above reflects a key buying zone where Fantom (FTM) crypto found support back in July 2021. This particular price level could have been attractive for whales or retail investors to dollar cost average in.
I also speculate that Fantom (FTM) crypto may be on the verge of forming a double bottom reversal pattern, typically this is a bullish pattern where we would expect a massive pump to the upside of the neckline (resistance) is broken.
As we can see, FTM previously got rejected at the $0.418 resistance level and printed another swing-low down into the buy zone during September.
We could speculate that Fantom (FTM) and the bullish sentiment surrounding it may be enough momentum to bring the price back up to the double bottom neckline at $0.417.
The more times a resistance level is tested, the more likely the price of the given asset or security is to break through.
If the neckline is broken we could see the price of Fantom (FTM) crypto pump up to roughly $0.61 over the next few weeks or months.
Of course, this depends on the sentiment of the entire blockchain markets and the trajectory of Bitcoin.
According to Coinmarketcap Fantom (FTM) crypto now has a market capital of $671 million. Whilst I don’t think there will be any major movements this year, by the next bull run we could still potentially see a 5-10x from current price levels perhaps between $1.50 and $3.
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