Fantom (FTM) cryptocurrency has caught the market’s attention, with analysts eyeing a massive 250% FTM price rally linked to bullish chart patterns and the long-awaited Sonic upgrade.
The overhaul promises to bring serious progress to the Fantom ecosystem, sparking new hope among traders and investors. However, FTM .cwp-coin-chart svg path { stroke: ; Stroke width: ; }
price
Trading volume within 24 hours
Recent price action 7D
Also staring at a bearish trading pattern – here’s what to know.
Bullish patterns suggested a breakout for Fantom
Fantom lights up the charts, attracting attention after breaking out of a falling wedge – a move that was hailed as a bullish reversal by CryptoBoss, a high-profile analyst with 189k followers on 256% and the target is near $2.
However, not everyone buys it. At 99Bitcoins, our analysts don’t see the same fireworks.
Bleeding Phantom, it is stuck in a bleak downtrend with a death cross sealing the bearish outlook. The $0.7200 support area is the last line of defense, so if it loses it will be an open door to deeper losses.
Volatility is also off the chart, with the price holding the lower band of the Bollinger Band, a clear sign that sellers are still calling the shots. The RSI is indicating oversold levels, but there is no bullish reversal or divergence in sight. This is a bearish knife, and unless $0.7200 holds or the 20-day simple moving average is reclaimed, anyone who buys here is walking a tightrope.
The metrics on the chain somewhat support delusional optimism
Fortunately, there are a few things to be excited about for FTM. Santiment data shows that Fantom’s socially weighted sentiment has risen over the past week, indicating growing optimism among traders. Sentiment has improved from -1.64 earlier this month to -0.0427 at press time, strengthening the bullish case.
$FTM The update and retest breakout was confirmed on the weekly time frame.
We expect a significant rise of 400-500% in the coming weeks
#FTMUSDT #FTM #encryption pic.twitter.com/hNfuMxgvO0
– Clifton FX (@clifton_ideas) January 5, 2025
Furthermore, Fantom’s switch to Sonic Chain is set to bring a leaner, more aggressive blockchain to the table. The upgrade aims to replace FTM’s role via staking, validation, and governance by promising faster transaction speeds, reduced fees, and a powerful new S-token.
FTM holders get a lifeline too, with the ability to exchange tokens once the Sonic Chain launches. Major cryptocurrency exchanges, including Binance and Crypto.com, have pledged their support as FTM trading pairs prepare to withdraw by January 2025.
FTM price forecast for 2025
Although the price of FTM fell by 40% last month, technical indicators suggest that bullish momentum could return soon. The MACD indicator on the daily FTM/USDT chart shows that the MACD line is approaching a bullish crossover with the signal line, indicating a potential upward movement. Meanwhile, the RSI is in the oversold zone indicating a possible recovery in the short term.
Key levels to watch include immediate support at $0.7200 and resistance at $0.7420. If Fantom’s market sentiment and technical momentum are in line with the broader cryptocurrency recovery, the $2 to $4 price targets set by analysts may not be so far-fetched.
Sonic’s upcoming upgrade and the introduction of S-Codes marks a pivotal moment for Fantom. These changes, combined with increased whale accumulation and a marked improvement in social sentiment, have made Fantom one of the most exciting altcoins to watch in 2025.
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