Analyst Says Fantom (FTM) Downtrend Is Over, Is $1 The Next Stop?

Fantom (FTM) registered a remarkable performance over the past 24 hours, attempting to break above a crucial horizontal level. Some market watchers forecasted a

Fantom (FTM) registered a remarkable performance over the past 24 hours, attempting to break above a crucial horizontal level. Some market watchers forecasted a 345% surge before the year’s end but set the key levels to reclaim before FTM’s new all-time high (ATH).

Fantom Breaks Out Of Downtrend

As Sunday ended, Fantom’s price jumped 8.2% toward a crucial resistance level not seen in four months. The cryptocurrency neared the $0.8 mark for the second time in the last seven days, fueling a bullish sentiment among investors.

FTM has registered a 46.6% increase in the past three months, recovering from Q3’s market crashes and challenging June’s price action. June’s horizontal resistance marks the first crucial level for the cryptocurrency, as it was a strong support area during Q1 and Q2.

Moreover, Fantom has been on a 7-month downtrend since its yearly high of $0.97, currently sitting 23% below it. Market analyst AMCrypto suggested that the cryptocurrency’s downtrend “is now over.”

The analy…