Fantom (FTM) Struggles in Short-term, $15 Target Could Be Within Reach for Long-Term Holders
- Fantom (FTM) has dropped 8% over the past week and 5% in the last 24 hours, now trading at $1.21.
- Experts predict significant growth for FTM, with targets ranging from $5.59 to $15 as market conditions stabilize.
- Despite recent price drops, FTMs strong 76% increase over the last 30 days highlights its potential for recovery and future gains.
Fantom (FTM) is currently facing turmoil in the market. In the last week, it has lost 8% of its value, and in the last 24 hours, it has dropped 5%, trading at $1.21. Also, the trading volume of FTM has decreased by 29% in the last 24 hours.
However, from a broader perspective, FTM has had an incredible run, up 76% in value over the last 30 days, and showcases the strong momentum of the token earlier this month, despite the recent downturn.
Despite these short-term setbacks, there is yet plenty of optimism for FTMs future. A lot of analysts are still very confident about the long-term prospects of the token, going to the extent of suggesting that the recent price decline might have been a mere setback.
Fantom Set for Breakout, Eyes $15 Target
Crypto analyst Alex Clay has a particularly bullish outlook on Fantom, dubbing its macro chart one of the most promising in the market. He pointed out that FTM forms a broadening wedge pattern, which is one of the strongest types of uptrend. According to Clay, FTM is still in its third bullish leg, suggesting significant upside potential.
Clay believes FTM will see some consolidation in the near future, fluctuating between 0.236 and 0.382 Fibonacci retracement level, but it will not be able to sustain, and a breakout will happen that could take FTM to much higher levels.
Clay has set some ambitious price targets for Fantom: $5.59, $8.92, and $12.26, a suggestion that FTM could see massive gains when market conditions stabilize and the trend goes full bullish.
Along with Clays analysis, another crypto expert, Captain Faibik, holds a very optimistic view of FTMs future. He lets the FTM holders know to be patient and not get stressed about the movement that happens in the short term.
He suggests investors should sit back, relax, and enjoy the ride because the long-term prospects of Fantom remain solid. He has set a long-term price target of $15 for FTM, further reinforcing the confidence in the tokens future.
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Text source: TronWeekly
