- Crossing $1 is critical for FTM.
- Selling pressure on Fantom was high, and indicators looked bearish.
The ongoing bear market had heavily affected Fantom [FTM], as the token registered a double-digit decline over the last few days.
However, the token’s price was in a consolidation phase at press time. If a breakout happens, then FTM’s price might reach new highs soon.
Fantom sets a new target
FTM surged sharply on the 16th of March, but the trend changed soon, which neutralized its weekly gains. According to CoinMarketCap, in the last 24 hours alone, FTM was down by 10%.
At the time of writing, FTM was trading at $0.7912 with a market capitalization of over $2.2 billion.
Since the token’s price volatility increased, people started to talk about FTM, causing its Social Volume to rise.
Interestingly, despite the price drop, FTM’s Weighted Sentiment increased, meaning that bullish sentiment around the token was dominant in the market.
On the 16th of March, crypto analyst Ali posted a tweet highlighting the fact that FTM’s price was in a consolidation phase. If the trend changes, the next target for FTM might be $1.44.
Since the target looked ambitious, AMBCrypto took a look at FTM’s liquidation levels to see whether there were any roadblocks before $1.44.
We found that FTM will witness a high liquidation rate near $1. High liquidations often restrict prices from moving up. Therefore, crossi
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Author: Dipayan Mitra
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