Is it too late to buy FTM? Phantom price has risen 26% in a week following the Sonic Network upgrade, and this cryptocurrency casino is about to explode.

adminMay 21, 2024

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phantom price rapidly increase It has risen more than 26% over the past seven days, trading at $0.8798 as of 5:45 a.m. ET.

The FTM price surge occurred after the Phantom Foundation revealed new details about FTM. sonic network migration. This move is part of the project’s response to the scalability issues suffered by most blockchain networks currently on the market.

Michael Kong reveals the launch of Sonic and beyond.
TL;DR
Sonic will be used to create a new best-in-class shared (decentralized) sequencer for L1 and L2 chains, capable of processing 180 million transactions per day at sub-second finality, and will serve as the foundation for a full relaunch of Fantom. will do. pic.twitter.com/AFEYxddC09
— The Phantom Foundation (@FantomFDN) March 25, 2024

By integrating with this “best-in-class” network sequencer, blockchain networks achieve higher throughput. According to the project team, the sequencer can process 180 million transactions per day with “sub-second finality.”

Phantom Prices Could Rise Soon

FTM chart image

FTM/USD 4-hour chart (Source: gecko terminal)

that much fantasy The price has been attempting to overcome the $0.9168 resistance level over the last 48 hours. However, the seller was able to defend the mark. This led to corrections throughout the last trading day. As a result, FTM is now hovering around the $0.8442 support level.

The recent phantom price action has led to the formation of a symmetrical triangle on the 4-hour chart. This particular chart pattern suggests that the altcoin could see strong movement in either direction over the next 24 hours.

If FTM breaks, it may lose the aforementioned $0.8442 support. Traders can then choose to leverage this to push the cryptocurrency price lower in the near term towards the next major support level at $0.7779.

On the other hand, a bullish move above the symmetrical triangle could cause the Phantom price to turn the $0.9168 barrier into support. A 4-hour candle closing price above this key price range can be identified as a buy entry by traders. This potential influx of buying could push FTM up to $0.9736 in the next few days.

Phantom Price: Declining Buyer Power

Technical indicators on FTM’s 4-hour chart currently show that the downtrend and the uptrend are evenly matched. However, it seems like more buyers are starting to enter the altcoin charts.

After rejecting the $0.9168 resistance line, the Moving Average Convergence Divergence (MACD) line crossed below the MACD signal line. Traders typically identify these technical events as an indication that a cryptocurrency has entered a negative cycle.

Meanwhile, the Relative Strength Index (RSI) indicator on FTM’s 4-hour chart shows that buyer strength has also declined over the past 24 hours.

The bearish situation for FTM may soon change as both MACD and RSI are starting to show bullish signals. First, the MACD line is rising towards the MACD signal line. If these two technical indicators cross over the next 12 hours, it could be a sign that FTM is breaking out of a negative cycle.

Buyers are starting to regain some of the strength they have lost recently, as evidenced by the positive slope of the RSI line. Additionally, the RSI is above 50, which could be a sign that bulls are outperforming bears. Buyers’ dominance appears to be increasing due to the positive slope of RSI.

later fantasyupsurge, Investors may want to consider diverting some of their profits to the Solana GameFi sensation. mega dice.

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With over 10,000 monthly active players and over $50 million in monthly platform bets, DICE investors can reap lucrative rewards from day one.

Investors are rushing to get into DICE early.

Investors have already purchased more than $1.1 million worth of DICE through the ongoing presale. Part of its success may be due to the early bird bonus offered to anyone who purchases tokens during the ICO phase.

Limited edition NFTS will also be available to all DICE investors. These digital assets give players and investors access to special privileges and rewards. Alternatively, you can trade NFTs on the market.

Considering all the rewards and benefits available to pre-sale investors, it’s no surprise that cryptocurrency YouTuber Michael Wrubel told his 312,000 subscribers that he’s bullish on DICE.