FTM rebounds 8.7% from a 24-hour low of $0.4703 to a high of $0.5114, showing a strong intraday recovery.
A descending triangle pattern forms on the FTM 4H chart, with resistance near $0.70 and support tested at $0.55.
Longs liquidated $36.58 in 24 hours; no short liquidations were recorded, indicating bearish pressure triggered stop-outs.
Fantom (FTM) price has seen renewed interest after a short-term price recovery. The token dropped to a low of $0.470295 within 24 hours. It has now rebounded to above $0.51 before stabilizing near the $0.500 mark.Market data showed a 3.54% gain in the last 24 hours. Traders are watching closely for the next move as Fantom Price attempts to reclaim key resistance zones.
Technical Structure Indicates Possible Breakout Zone for Fantom Price
The current 4-hour chart showed FTM forming a descending triangle pattern. This structure is commonly viewed as bearish. It comprises lower highs and a flat support level, previously around $0.70.Fantom price has already broken below this support, reaching nearly $0.55 before bouncing back. This bounce has brought attention to a possible retest of the old support as resistance.The pattern may be invalidated if the price consolidates above $0.70 again. On the other hand, failure to break this zone could mean more downside.Market participants examine descending trendlines as an indicator of a weakening selling force. When the price stays above this line for a long time, market sentiment indicates that buyer power is increasing.Descending Triangle Breakout | Source: TradingViewThe key short-term trading decisions will depend upon market actions near the $0.70–$0.72 area. If Fantom price maintained a definite rise above this level, the market would likely draw increased volume.If the current support level fails to hold, the price could retreat. It may drop back to the historical selling high of $0.55.
Derivatives and Sentiment Data Show Growing Buyer Interest
Trader interest in Fantom (FTM) grew with the Sonic (S) update. This is because of its new features that improve performance and scalability. Fantom’s market liquidity is still strong, with a total token supply of 3.17 billion and 2.8 billion units in circulation.Derivative positions from the preceding day revealed bullish market conditions during which $36.58 worth of assets got liquidated. However, the quick rebound highlights active buyer support.Traders took advantage of favorable funding rates on long positions. This reflected their anticipation of potential price increases in the market. Record votes from 38.9K users backed bullish positions to 90% based on the high sentiment.FTM Oi-Weighted Funding Rate | Source: CoinglassTrading activity remains concentrated in Binance and Bybit. On the other hand, Bitfinex occupies the third position, indicating where most market volume occurs.Market participants closely monitor Fantom price movements, anticipating a return of momentum. Increasing funding rates and strong community support suggest the potential for sustained price recovery.
Crucial Support and Resistance Levels to Watch This Week
FTM is currently trading near $0.50. The latest market consolidation includes short-term support at this trading position. The price staying above this area will direct traders to inspect resistance near $0.55 and $0.70.Price breaking through the resistance levels could kickstart an ascending trend pattern. On the downside, a move below $0.50 could open the way toward $0.475 again.Traders will likely place stop-loss orders below this range, which may increase volatility. The $0.470–$0.475 zone has already shown buying interest, but another test may weaken it.Fantom price performance Chart | Source: TradingView The Sonic network upgrade from Fantom and recently increased project visibility constitute new factors drawing attention to the project. 2.8 billion FTM tokens exist on the market, while most have been released, thus maintaining network stability.A technical configuration supported by on-chain operations seems ready to influence Fantom price fluctuations in the upcoming period.Fantom’s market outlook depends on whether the price surpasses the $0.70 resistance zone. A breakout could signal bullish momentum, while failure might indicate a bearish trend.
