The markets began the weekly trade on a bullish note after the price of Bitcoin recorded a new ATH above $106.6K. This triggered a massive upswing in some altcoins, while others chose to trade within a narrow range. Ondo, for instance, is leading the top 100 with an over 15% rise, while Fantom (FTM) & Virtuals Protocol (VIRTUAL) maintain a growth of over 13% each. With a bullish start, the question arises as to whether these tokens can maintain their dominance until the end of the day.
Ondo price has been maintaining a steep upswing for over 40 days, regardless of the volume, which has been draining. Meanwhile, the bulls continue to remain dominant as they can exert enough bullish pressure. This also flipped the death cross that occurred in the first few days of September, offering significant bullish momentum to the token that smashed a new ATH at $2.79.
As the above chart suggests, the price remains within the bullish range of the FIB channels as the price surged above 1 FIB but is yet to reach the next target at 1.2 FIB. The on-balance volume (OBV) continues to rise, suggesting the continuity of a bullish trend. Besides, the +Di & -DI are departing from each other, indicating a rise in the bullish trend. Therefore, the ONDO price is believed to maintain an ascending consolidation and mark a new ATH at $2.33, probably before the end of the year.
The Fantom price has been trading in a strong ascending trend since the reversal of the August lows close to $0.26. The trading volume over the platform has risen since November, which appears to have declined to a large extent. However, the token could get a fresh bullish boost as the selling pressure seems to have faded over the token. Hence, the price is believed to secure some crucial levels that may help the token form a new ATH in 2025.
The FTM price is trading within a rising parallel channel and has faced multiple rejections close to the resistance. Currently, the token is facing some bearish pressure, but the bulls are expected to revamp a strong rise. The MACD (Moving Average Convergence Divergence) shows a drop in the selling pressure, which could pave the way for the accumulation of fresh buying volume. Hence, with a rise in the buying pressure, the price is expected to break above the Bollinger bands, which are currently going parallel, and reach $1.68. However, sustaining above the range could push the price above $2, which may eventually help the token to head towards the new ATH.
On the other hand, the Virtuals Protocol (VIRTUAL) price continues to trade within a discovery phase, forming a new ATH around $2.79. With this move, the token is an inch close to entering the top 50 cryptos, surpassing the giants like BONK, WIF, INJ, & ONDO.
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