- FTM faces a key resistance at $0.46 as the token tries to add another 45% increase.
- If the buying pressure continues to wane, FTM may drop below $0.40.
- Moving in the $0.65 direction is not out of the question as the MACD indicated increasing upward momentum.
According to analyst Ali Martinez, Fantom (FTM) has hit another resistance around $0.46. Notably, breaking the $0.40 psychological resistance has been one of FTM’s notable landmarks recently. This breakout was what gave rise to a 22.62% increase in the last 30 days.
The $0.46 Level Is Critical
For Martinez, FTM has the potential to become bullish again and jump to $0.65. He, however, mentioned that the token needs to break through $0.46. The $0.46 level became a crucial zone because it was at this point that 1,430 addresses accumulated 657.60 million tokens.
#Fantom has hit a significant resistance zone. Over 1,430 addresses hold 657.60 million $FTM accumulated between $0.46 and $0.46.For a bullish leap, #FTM needs to break through this area decisively. If it succeeds, we could see a 45% rally, aiming for $0.65. pic.twitter.com/dIdJRJaZni
— Ali (@ali_charts) December 15, 2023
Therefore, buye…
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