Cryptocurrency market, which has been experiencing a tiring environment for weeks, began to reverse as of the early hours of July. BTC is trading at $63,000 at the time of writing. Altcoins turned green and many started moving towards their near resistance levels. Could the next opportunity be FTM Coin?
Fantom (FTM)
In the last 24 hours, the FTM Coin price has increased significantly. The rise continued across altcoins. Recent Circle and Coinbase news supported the market after the US markets opened. Fantom (FTM) is trading at $0.59, and the increase in trading volume supports the possibility of continued positive divergence. The current volume of $116 million increased by 82%.
When we look at the ratio of daily trading volume to profit and loss, we see that it has reached the highest level since April 8, at 4.29. This indicates that a significant portion of the transactions resulted in profit. High profitability indicates the continuation of the rise. Here, 4.29 is positive.
FTM Coin Price Prediction
For now, looking at the daily movement, there is a promising picture for the continuation of the rise for FTM Coin. MACD started to recover as of June 24. The fact that buyer interest is recovering before BTC should be motivating. Since MACD is often used to monitor trend reversals, it may signal stable growth in price.
When the MACD line intersects with the rising trend (orange) line, this signals a rise. If the buying pressure for FTM Coin continues to strengthen and profit-taking remains weak, we could see higher peaks if BTC holds above $62,500.
In a possible decline, a retreat to the $0.53 support level could be seen. However, the price is now closer to testing the $0.624 resistance. If this level can be regained and $0.637 turns into support, we could see a new rise attempt targeting $0.85 for FTM Coin. Beyond that, there are targets of $0.96, $1.04, and $1.16.
In case of excessive selling, local support losses could test the $0.51 and $0.42 support levels. Of course, as with all other matters in crypto, it is impossible to predict the future.
