- Fantom’s $1.25 support level holds firm as it consolidates after a sharp 9.35% rally.
- Ondo’s resistance at $2.12 limits gains, while $1.82 acts as a strong support zone.
- Virtuals Protocol leads with 17.27% gains, eyeing $3.00 after testing $2.95 resistance.
The altcoin market saw notable activity in the last 24 hours, with standout performers leading the way. Fantom (FTM), Ondo (ONDO), Virtuals Protocol (VIRTUAL), and Ethereum Name Service (ENS) exhibited strong gains. These coins experienced significant price movements, breaking key levels, and attracting heightened trading activity.
Fantom (FTM) Consolidating After a Sharp Rally
Fantom surged by 9.35% in the past 24 hours to the price of $1.36 as per Coinmarketcap data at press time. Rally started near $1.25, this turned into support, it began around $1.45 which was then retraced.
Sellers gained the upper hand at this level of resistance, resulting in price consolidation. At the moment, FTM is ranging between $1.35 and $1.40, which indicates that a stabilization has begun.
However, the trading volume skyrocketed by 165.55%, which indicates that buying power is very strong. A bullish outlook depends on the $1.25 support, and $1.45 becomes a hurdle for further gains. Keeping prices above this level would provide a breakout, however, a lack of it may extend prices down to the $1.30 support area.
Ondo (ONDO) Stabilizing After Testing Resistance
Ondo posted an 8.28% gain, climbing to $1.98 after starting the day at $1.82. The price reached a peak of $2.12, where resistance halted further upward movement. Consequently, profit-taking caused a pullback, with the price now consolidating between $1.90 and $2.00.
The trading volume jumped by 157.46%, underlining heightened interest in the coin. A sustained move above $2.12 could open doors to the $2.20 level. Conversely, a failure to hold above $1.90 might push the price back toward the $1.82 support zone.
Virtuals Protocol (VIRTUAL) Riding High on Momentum
Virtuals Protocol led the pack with a 17.27% gain, reaching $2.83. Initial price was $2.41, its support level, and gradually rose to $2.95 and pulled back a little. It is now trading between $2.80 to $2.90, which presents a consolidation pattern to the current uptrend.
Volumes surged by 54.59% as it saw strong buying interest. If $2.95 is broken, $3 could be the next target. But if it is not able to hold at present levels, a fall to $2.70 or $2.60 could ensue.
Ethereum Name Service (ENS) Facing Resistance at $50
ENS saw a modest 2.88% increase, reaching $44.61 after peaking at $50. This resistance zone triggered selling, causing a retracement. The coin is now holding above $43.36, a key support level, and consolidating near $44.00.
Trading volume surged by 104.05%, indicating strong interest despite the pullback. A successful break above $47.00 could see ENS retest the $50 resistance. However, failure to hold above $43.36 may lead to further declines.