Key Insights:
- Fantom Price moved past $0.57 after 1,050-day accumulation.
- Binance Wallet integration and USDC support triggered a 182.8% volume jump.
- Open interest rose 20%, and TVL hit $1.06B as long positions dominate Sonic charts.
Fantom Price (now Sonic, ticker S) is gaining momentum after a series of bullish developments and a surge in on-chain activity.
FTM followed a long-term period of market consolidation exceeding 1,050 days before generating a base that mirrored its historical price accumulation phase.
Analysis of technical factors and fundamental indicators suggests that Fantom has potential for a price breakout.
Accumulation Pattern Points to Major Move for Fantom Price
Crypto analyst Crypto NL stated that Fantom price maintained 800 days of accumulation phase before its 2020 price surge that surpassed 2,700%.
The token experienced a second rally surge of 6,000% following its major price correction period.
More so, the current price pattern mirrors the previous performance by displaying over 1,050 days of sideways action that developed into a broad-based pattern.
The price needs a 230% increase before a breakout, and a subsequent 400% increase could push Fantom Price to $9.
Notably, data illustrated an accumulation structure that was rounding up and simultaneously recorded increasing support levels.
The recent breakout data on the daily chart revealed investors surpassing vital moving averages as the RSI level stands at 61 with potential to advance upwards. A setup that resembled previous historical conditions occurred right before past bullish market cycles.
Binance Wallet Integration and Ecosystem Growth
Fantom Price surged after Binance announced a new feature allowing users to access Sonic dApps and transfer tokens directly via Binance Wallet.
The announcement, made on May 1, was part of Binance’s Alpha Projects campaign and hinted at future airdrop rewards.
This followed the April 29 integration of native USDC bridged through Circle’s Cross-Chain Transfer Protocol V2, increasing liquidity on Sonic. The impact on market activity was immediate.
According to Coinglass, trading volume jumped 182.8% to $275.8 Million, and open interest rose by 20%. The total value locked within the Fantom network achieved its peak of $1.06 Billion according to DeFiLlama information.
The Sonic ecosystem gained investor attention so decentralized exchange experienced a 58% growth in daily volume.
The upcoming Sonic Summit set for May 6–8 in Vienna holds potential to produce additional headlines.
Investors expect Trust Wallet and other DeFi partners attending the upcoming Sonic Summit to make announcements that will demonstrate enduring bullish momentum for Fantom Price.
Analysts Target Higher Levels Ahead of Sonic Summit
Trader Patrick Schmitt projected that Fantom Price could climb to $1.40–$1.50 before the summit, with a potential pullback to $0.90, followed by a rally toward the former all-time high of $3.42.
He noted that such moves have historical precedent, especially during periods of ecosystem expansion and event-driven hype.
Currently, Fantom Price is trading near the upper Bollinger Band on the daily chart. The breakout is supported by increasing volume, and the technical structure remains bullish above $0.57.
If the current trend continues, $0.60 stands as the following resistance level before reaching $0.68. A breakout below $0.50 will cancel out the current short-term investment plan.
Fundamentals and Market Position Strengthen
Now operating as a fast, EVM-compatible Layer-1 chain under the Sonic brand, Fantom boasts over 10,000 transactions per second and near-instant finality.
The integration of native USDC, new DeFi tools, and real-time wallet functionality has expanded its appeal to both institutional and retail users.
The long-to-short ratio has tilted in favor of bulls, with long positions dominating recent trading. Open interest has climbed to $1.55 billion, while a funding rate of 0.0159% points to strong demand for leveraged exposure.
Fantom price consolidation above key support levels suggests strength in the current market. Combined with historical trends, rising institutional interest, and increased platform usage, this points to a potential price increase.