Fantom (FTM) Soars 10%: Experts Recommend This P2E Crypto for Greater Gains

Fantom Price Surge Overview

In the past 24 hours, Fantom (FTM) has experienced a notable 10% price increase, reaching $0.3982 as of 3:25 a.m. EST. This surge comes alongside a significant 59% boost in trading volume, bringing it to $274 million. As a result, FTM has emerged as the top gainer among the top 100 cryptocurrencies, according to CoinMarketCap.

Fantom Price Analysis: Bullish Rebound Initiated

Fantom’s recent price action shows a bullish rebound from a bearish channel pattern. After a prolonged downturn and hitting resistance at $0.9514, the price faced a setback. However, the support zone has provided an opportunity for a rebound and a potential price increase.

Key technical indicators include:

• Simple Moving Averages (SMAs): The 50-day SMA is currently just above the price, while the 200-day SMA is further away. A breakout above the 50-day SMA could signal the start of a bull rally, with further confirmation if the price surpasses the 200-day SMA.
• Relative Strength Index (RSI): The RSI has rebounded from the oversold level of 30 to the 50 midline, indicating growing bullish pressure. Continued bullish action could push the RSI into the overbought region of 70.
• Moving Average Convergence Divergence (MACD): The MACD is rising from below the neutral level, with the blue line crossing above the orange signal line. This suggests increasing buying pressure, supported by the rising green histogram bars above the neutral position.

Fantom Price Prediction: Potential Upside

As the price climbs towards the upper boundary of the bearish channel, the increased buying pressure could drive the price to new highs. Analysts predict that with continued momentum, the price could reach $0.7155 this month, with potential to reclaim $1.25 in the coming weeks.

However, the 50-day SMA may present a strong resistance, potentially allowing bearish momentum to push the price down. In this scenario, the price could find support around $0.2402.

A Promising Alternative: PlayDoge (PLAY)

While Fantom continues its bullish trajectory, another promising project attracting investor attention is PlayDoge (PLAY). This project, inspired by the classic 90s Tamagotchi, has already raised over $6 million in its presale. Analysts, including popular YouTuber ClayBro, are excited about PlayDoge’s potential for significant gains due to its innovative integration of blockchain technology.

Key features of PlayDoge include:

• Modernized Tamagotchi Experience: PlayDoge revitalizes the classic Tamagotchi game with contemporary blockchain technology, allowing players to earn cryptocurrency rewards by caring for virtual pets.
• Mobile-Friendly: The game will be accessible on smartphones, making it easy for players to engage with the game on the go.
• High Staking Rewards: PlayDoge offers a 76% annual yield for those who stake the token. Staking involves locking up tokens via the project’s website to unlock these high rewards.

Investors can purchase PLAY tokens using ETH, BNB, USDT, or a bank card through the project’s website. However, the price of PLAY is set to increase in just over three hours, so interested parties should act quickly.