Fantom (FTM), one of the popular cryptocurrencies of old, is approaching a potential breakout with its 15 percent rise during the day.
The crypto market continues to rise at full speed despite bearish scenarios. After retreating below $35,000, BTC attacked again and maintained permanence above $37,000. As a result of this situation, money inflow to altcoins continued.
Major coins such as AVAX, SOL and LINK reminded the bulls with their rise. Another coin of the old ones, FTM, made its presence felt by rising 15 percent during the day. FTM is preparing for a potential bull run.
The ropes are tight for Fantom (FTM): The rise is at the door!
Fantom (FTM), the decentralized smart contracts platform that left its mark on an era, approached its bull breakout with a 15 percent increase in the last 24 hours.
FTM came to the fore in the bull run in 2021 and achieved a 1700 percent increase. The popular cryptocurrency reached a market value of $8 billion as it rose to prominence in the previous bull run. However, the subsequent bear market was enough to pull FTM back. Thus, FTM began to fall out of favor.
The bullish progress of the crypto market has started to bring old crypto currencies to the fore. FTM has experienced a significant rise on its way to the top again.
Looking at the FTM chart, the price appears to be in a significant breakout zone. Preparing for a potential bull run, FTM is close to the $0.3770 resistance. If this resistance zone is breached, FTM price could test $0.3942. The $0.3942 resistance, which is the obstacle to the bullish potential, will be an area where sellers will concentrate. If this region is exceeded, FTM may start a bull run that will push the $0.6509 resistance. However, in this bullish scenario, $0.4391, $0.5453, and $0.5995 will be important resistance zones.
On the other hand, FTM may be left with selling pressure as the market turns negative. If it fails to meet the selling pressure with demand, FTM price could retreat towards the $0.3273 support. If this support point is lost, the price will test $0.2863 again. $0.2863 will determine the trend direction for FTM. Losing this region may bring up the major support point at $0.2173.
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