FTM is Likely to Consolidate in a Narrow Range during the Next 3-6 Months
The Fantom (FTM) is experiencing a 1.8% rise, reaching $0.3602 this week. Its performance in February is an improvement compared to January when the altcoin incurred a 26.0% loss. Since the beginning of February, FTM has added a moderate 2.0%.
During Q4 2023, Fantom was among the best-performing crypto assets, with prices surging by 146%. This propelled the altcoin up the crypto rankings from 68th to 53rd place. However, technical overbought pressure led to a 46% decline from its highs on December 29. Fantom now appears to need an extended consolidation period to recover.
A likely scenario involves the altcoin moving sideways within a narrow range of $0.3000-0.4000, with occasional upside and downside spikes. According to Google Bard AI, this consolidation is anticipated in the range of $0.2000-0.3500.
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