Fantom Adds 14%, FTM Crypto Prices Likely to Reverse Early May Losses

Past Performance of Fantom

According to trackers, the Fantom token is up an impressive 14 percent in the last trading day.

As per the FTMUSDT candlestick arrangement in the daily chart, buyers appear to be in the driving seat.

Subsequently, the FTM crypto has outperformed the USDT and BTC in the last 24 hours, a net positive for optimistic traders.

Fantom Technical Analysis

Crypto prices are stabilizing, slowing down the bleeding of April and early May 2022.

Notably, from the FTM crypto daily chart, buyers have been successful in soaking selling pressure. The pump of prices over the weekend had relatively high trading volumes pointing to resilience.

Nonetheless, there must be a comprehensive close above $0.55 for Fantom coin buyers to be in a commanding position.

Such a move would unwind the losses of May 11, nullifying selling pressure from a volume analysis perspective. Because of this development, traders may find entries on dips, targeting $0.70 and $1 in the medium term.

What to Expect from FTM?

FTM token prices are down 84 percent from January peaks. At spot rates, Fantom is bottoming up. However, there need to be sharp gains above $0.55 to spur more demand in the short term.