Fantom (FTM) Price Prediction: Ready to Fly in Q4 2024?

In Q4 2023, the Fantom (FTM) price started gaining bullish momentum and recovered from the strong consolidation phase.

As Q4 2023 progressed, the price of Fantom (FTM) began gathering bullish steam, emerging from a period of strong consolidation. It enjoyed a remarkable surge of over 500% till the last week of March, when the bullish trend encountered resistance near the $1.20 mark.

March’s last week brought a shift in momentum towards sellers, as evidenced by massive profit bookings. The FTM price declined through a descending channel, losing around 55%. Near the $0.3500 hurdle, however, the selling pressure seemed to be exhausted, setting the stage for a reversal.

Analyst Pinpoints $0.460 as the Sweet Spot

According to Johnny (@CryptoGodJohn), a cryptocurrency analyst, the FTM price might experience a surge once it sweeps up the liquidity below the $0.460 mark. The Sonic Upgrade has generated significant hype which could play a key role in driving bullish momentum.

If we get the sweep and reclaim, I’m interested in $FTM longs.

Sonic upgrade catching hype — I think if we see alts rally into Q4 / October, fantom will be a top performer. pic.twitter.com/eBgkcx1rrn

Should this scenario unfold, FTM crypto could emerge as the top performer of Q4 2024.

Is FTM Price Primed to Soar?

Alex Clay (@cryptclay) shared in a tweet that the FTM price chart is displaying an awesome bullish structure, with the potential for a strong move. On a weekly time frame, the price has formed a double bottom pattern followed by a correction phase. During this correction, the Fantom crypto price formed a Bullish Flag pattern in the shadow of key moving averages.

#FTM/USDT Mid-Term

Awesome bullish structure on $FTM ?

Double Bottom accumulation, then we got a correction due to the market and formed a Bullish Flag just under the resistance confluence of mid-zone + ema 50 + ema 100 + ema 200?

Breakout is imminent imo?

short-term… pic.twitter.com/X1EcmDZMSX

Following the successful breakout, the FTM crypto is expected to achieve its short-term target of $1.23. It may go for the $1.77, $2.70, and $3.36 in the mid-term.

Technical Analysis of Fantom Price Over 1-D Time Frame

At the time of writing, the Fantom crypto was trading at $0.562, up 8.06% in the past 24 hours. The market capitalization was $1.49 Billion and the 24-hour trading volume was $268.89 Million.

The FTM price has formed a bullish flag on a daily time frame and has triggered a breakout. During the breakout, the Fantom price breached the 200-day EMA, and trading volume increased by 28%.

If the FTM price manages to stay away from the channel, it could invite buyers which may trigger bullish momentum. The price may extend to the psychological level of $1 in a single spike. Breaching this mark may invite investors and could perform positively for the next few months.

On the other hand, if the digital asset price forms a negative candlestick and slips below the 200-day EMA, buyers might panic. If the price re-enters the channel, it could be a fakeout and sharp selling can be seen further.

Technical Analysis

The charts indicate a potential for bullish momentum. Analysts are predicting a positive outlook for the FTM crypto, with potential short-term targets of $1.23 and mid-term targets of $1.77, $2.70, and $3.36.

Technical analysis also suggests the possibility of a bullish breakout, especially if the price manages to stay away from the channel and breaches the psychological level of $1.

However, it’s crucial to monitor the price movement closely and consider risks, such as a fakeout if the price re-enters the channel.