Fantom Price Prediction: Analyst Predicts Massive Surge By April

Key Insights:

• Fantom has bounced over 200,000% from its historical lows after a 96% drop since its launch.
• The current price for FTM stands at $0.49, while technical indicators forecast it to reach $1.62 and $3.25.
• The rise of RSI to 55.74 with falling volumes creates concern, while the rising trendline protects the uptrend movement.

Analysts predict a notable uptrend for Fantom price in April. This expectation is based on consolidation trends and positive market indicators.Traders are watching support levels and breakout signals. Amid this observation, FTM aims to reclaim previous all-time highs amid rising altcoin market momentum.

Price Recovery and Key Support Levels

At press time, Fantom price traded near $0.49 after experiencing a major decline from its all-time high of $3.45. The token dropped over 96% from its initial highs but surged over 200,000% during the last bull run.The recent market correction has pushed FTM into a consolidation phase, fluctuating between $0.48 and $0.50. Analysts have identified $0.466 as the lower support and $0.562 as a short-term high.A bounce from these levels could indicate renewed investor interest. The 4-hour chart showed FTM trading inside an ascending channel. Additionally, a break above this pattern could signal the start of another rally.

The analyst’s charts pointed to a curved ascending trendline on the daily chart. FTM has respected this line multiple times, ending corrections and moving upward. If Fantom price stays above this line, bulls may target higher resistance levels in the coming weeks.

Bullish Targets and Resistance Zones

The analyst has predicted a potential rise toward the $1.62 mark, a minor resistance zone. If momentum holds, the next target is $3.25, near the previous all-time high. These targets suggest a possible 450% gain from current price levels.Fantom price must break past static resistance levels at $1.111 and $1.636 to maintain bullish momentum. The previous price reactions at these zones indicate that sellers are active, and strong volume will be required to push through.Candle patterns on the chart have shrunk, indicating some selling pressure. However,  the uptrend structure remains intact.

The Relative Strength Index (RSI) indicator on the daily time frame stands close to the pivotal point of 55.74. An RSI reading under 55.74 could initiate additional downward movements in price.

RSI’s current stability or further strengthening reflects the purchasing power supporting the movement. This could catalyze the anticipated price breakout.

Short-Term Moves and Potential Channel Breakouts

FTM markets show an Ascending Channel trend. Fantom price interacted with mid-channel support as it attempted resistance at $1.63.According to analysts at this support level, the market range will persist. However, analysts expect immediate price movement once the upper trendline is successfully exceeded. The market observes $1.63 as a crucial barrier, while traders monitor this price before April.Fantom USD (FUSD), the native stablecoin, kept a steep distance from its base value of $1. This happened as its current market rate was $0.1478.The platform struggles with liquidity issues, as its zero market cap aligns with its zero trading volume. This is despite having 60.99 million units in circulation and $9.01 million in FDV.The upcoming FUSD 2.0 development by Fantom seeks to restore stability and usability features for the network. Fantom’s DeFi ecosystem could gain strength after a successful relaunch. This could become possible if market sentiment started to improve.