Phantom price waits for $0.70 support, eyes to hit $1 this month?

The price of Phantom has decreased by 12.86% in the last 11 days, highlighting the increasing selling pressure for the altcoin in the crypto market. However, the bulls kept the price above the $0.70 mark. This led to a positive recovery for the altcoin.

Will crypto bulls continue their bullish sentiment to help FTM crypto price reach the $1 mark this month? In this article, we have covered the short-term market sentiment, price analysis and short-term price targets of the Fantom (FTM) crypto token.

FTM Price Records Big Change!

Phantom's price jumped more than 3% in 24 hours to trade at $228.57 million, a change of +4.89%. In particular, this altcoin has seen significant price action over the past few days, which has seen the price rise.

The Simple Moving Average (SMA) continuously acts as resistance for the FTM price chart in the daily time frame. This indicates an increase in selling-versus-buying pressure in the crypto market.

On the other hand, the MACD indicator shows a continuous decline in the red histogram. Furthermore, the averages suggest that bullish convergence is present. This highlights the mixed price sentiment for the altcoin in the coming week.

Will the price of FTM reach $1?

If the bullish sentiment continues, the Phantom coin price may retest the $0.80 resistance level. A sustained price above this level could set the stage for this altcoin to head towards its target price of $1 this month.

Conversely, if the bears regain momentum, the FTM crypto price may record a bearish reversal. This could cause the price of Phantom to drop to a critical support trend towards $0.60.

Like “Can FTM reach $50?” To get answers to the questions Read CoinPedia's Fantom Price Prediction for possible puzzles until 2030!

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