$500 Million Moves into Fantom, But Why Are Smart Investors Turning to This Underdog Crypto?

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Sam Cooling

Author

Sam Cooling

About Author

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for…

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Last updated:

September 10, 2024 13:37 EDT

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Fantom could be the top altcoin as $500 million moves into the asset. Let’s explore the latest Fantom price action.

In this article, explore the latest Fantom price trends and uncover a rapidly growing meme coin that could offer some of the biggest returns in September 2024.

However, with prominent traders on X noting the LTF downtrend overbearing current price action, all eyes are on the so-called ‘Golden Trend Line’ to see if a defiant breakout is possible.

FTM Price Analysis: Can Fantom Price Breakout From LTF Downtrend?

As FTM price pushes up to test overhead LTF resistance, Fantom is currently trading at a market price of $0.492 (representing a 24-hour change of +11.3%).

This comes amid a display of impressive strength over the past few days, which has seen FTM bounce from lower support at $0.36 to reclaim critical local support from the 20DMA.

Now in a ascendant form, the 20DMA (which currently reads at $0.47) is providing a constant supply of local support – encouraging the sustained climb.

This moving average support has proved vital, as it’s powering price action to defy major overbought signaling from the RSI indicator, which is screaming for a bearish downtick at a shocking 84.4.

But while technically, this signals a need for consolidation or retracement ahead of an attempted pushback above the LTF downtrend – bulls are currently showing few signs of slowing down, as highlighted by Bollinger band volatility – which is testing the trendline at $0.50.

A partial explanation for this strength stems from broader market factors, with BTC mounting a strong uptick over the past 24-hours.

Overall, with local support from the 20DMA and the vital LTF trendline in touching distance – it seems an attempt to push above $0.50 is firmly on the cards.

But while this is good news for Fantom holders, it offers little allure for derivates traders, and for this reason many eyes are seemingly shifting to focus on the rapidly growing Pepe Unchained presale.

Could This Token Be The Best Performer in a September Meme Coin Rally?

One leading opportunity currently garnering significant interest from crypto whales is the Pepe Unchained (PEPU) presale – which is currently approaching a jaw-dropping $12.5M raised from retail investors.

The idea behind this project is to revamp Pepecoin and Frogcoins more broadly by launching a high-speed, low-cost layer-2 scaling solution similar to Shibarium.

This is a huge innovation for PEPE, which has been shackled to Vitalik’s expensive ERC-20 chain for too long and in a market increasingly favoring low-cost deployments such as Pump.Fun and SunPump – PEPU could be launching at just the right time.

So don’t miss out on this exciting investment avenue.

Buy PEPU Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.