Fantom (FTM) Price Accumulation: Can It Spark a 55% Rally?
Fantom Accumulation Continues
FTM price is bouncing back from a key support range, following which it could potentially attempt to push through the resistance at $1.0.
This endeavor is being supported by whales, who have accumulated heavily over the past few days. Addresses holding between 100,000 to 10 million FTM have added more than 19 million FTM worth almost $19 million in the last seven days.
Since whale addresses dominate the circulating supply, their actions impact the price. Accumulation could lead to an increase in FTM price if sustained.
FTM Price Prediction: Crossing $1 Is the Key
FTM price is presently trading at $0.98, closing in on $1.00. Flipping this level into support will enable the Fantom token to reach the target price of $1.61, a 55% price increase targetted by the Parabolic Curve Pattern in mid-February. However, failure at breaching $1 could lead to a retest of lower levels, potentially invalidating the bullish outlook and pushing the price back towards $0.80.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.