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Fantom's price surges 14% in 24 hours. Explore short-term and long-term projections, technical indicators, and investment risks.
Fantom (FTM) just had a 14% pump in the last 24 hours. This jump came right after a brief dip that followed Bitcoin's new ATH at $106,488. And with Bitcoin leading the charge, FTM managed to extend its rally to 95% in just 30 days. It even broke through some major resistance levels, going from $1.20 to $1.47. The next big hurdle is on the horizon, so I'm wondering if there's still more crypto to come.
In the short run, Fantom is expected to keep climbing. Some analysts predict the price could hit $1.124111 by January 9, 2025, giving a potential return of 232.11% ROI over the next 259 days. The 50-day moving average is looking bullish, suggesting that this upward momentum isn't slowing down anytime soon.
But looking a bit further down the line, the projections paint an even more interesting picture. By 2025, we could see prices between $1.327668 and $2.928681, with some forecasts saying €2.77 to €3.35 by 2025. Fast forward to 2030 and some say Fantom could reach $4.92, while others are slightly more conservative, estimating it at $2.68 to $4.49.
If you check the four-hour price movement graph, it shows an ongoing upside correction. If the current uptrend keeps going, FTM could retest levels of $1.52 and $1.65, which are crucial for further gains. But if the trend reverses? Expect a death cross, with initial support at $1.29 and key support at $1.11. Falling below that would add more pressure downward.
The short-term 9-day moving average is above the long-term 21-day moving average, and daily RSI is at 67.10, nudging towards overbought territory. The MACD has crossed over the signal line, indicating positive momentum and suggesting this might be a good time to go long.
Currently, the sentiment is bullish, with a Fear & Greed Index of 78 (Extreme Greed). But this isn't without its ups and downs; Fantom's volatility rate has been 17.44% for the last month and 23.83% for the last 30 days. The CMF is at 0.08, hinting at positive money flow. Also, daily trading volume just shot up over 165%, hitting $770 million.
What does this mean for freelancers? Crypto volatility can hit hard. Payments in Ethereum or Solana can swing wildly, meaning a payment of $2,000 in Ethereum could drop to $1,000 in two weeks. To cushion against this, freelancers should consider stablecoins, cash out their earnings immediately, and diversify their income streams.
The crypto scene is notoriously volatile. Prices can swing dramatically, leading to big gains but also huge losses. Market sentiment, speculation, and news events all play a part.
Many cryptocurrencies, especially smaller ones, face liquidity issues. Selling them can be tough without impacting their price, making it hard to convert investments into cash quickly.
The regulatory landscape is unpredictable and varies widely. Changes can hit markets hard, affecting values and legality.
Cybersecurity threats are real. Wallets and exchanges have been hacked before, and losing access to funds due to lost private keys is a risk.
Crypto's unique supply dynamics, like Bitcoin's capped supply, add to volatility. Large holders can shift prices quickly.
The lack of comprehensive crypto regulation can lead to instability. Regulatory bodies are taking their time, making it hard for exchanges to list certain assets.
The crypto world attracts its share of fraud and scams. People can and do fall victim to fraudulent schemes and phishing attacks.
Crypto markets are still growing. They're not as mature as traditional finance, which adds ongoing price discovery and higher volatility.
While Fantom's recent surge and promising projections are enticing, the crypto landscape is still a risky place. Investors should tread carefully, stay informed, and have a long-term strategy to manage risks. With the right approach, there could still be significant opportunities to explore.
