Fantom (FTM) has broken its prolonged bearish trend with a 60% surge in weekly price.
Over the past 24 hours, FTM climbed from $0.9282 to a high of $1.13, a level not seen since March.
While the global crypto market is stumbling due to Bitcoin’s sudden plunge to the $91K zone, Fantom (FTM) has emerged as the top gainer, surging to a 9-month high. Over the past 24 hours, FTM has climbed 21.74%, rising from a low of $0.9282 to an intraday peak of $1.13—a level last seen in March.
At the time of writing, the altcoin is trading at $1.08 with a market capitalization of $3.06 billion, while its daily trading volume has jumped by 68%, reaching $1.38 billion.
Fantom has been largely muted over the past two weeks when the crypto market showed an extremely bullish trend. However, Fantom has managed to break through its prolonged bearish trend and is now sitting well above the crucial $1.05 resistance.
Fantom Open Interest (Source: Coinglass)
The surge in Fantom’s price has
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