There has been a substantial rise in the price of Fantom (FTM) over the course of the last twenty-four hours, with the cryptocurrency reaching a high of $0.5868 and a low of $0.5390.
This increase can be attributed, in large part, to the announcement of a partnership between the Fantom Foundation and Sonic Labs to develop the Sonic Labs Innovator Fund.
The purpose of this fund is to hasten the process of integrating partners and decentralized apps into the Sonic network.
In response, the crypto market showed a positive reaction, which resulted in a significant rise in the price of FTM and the formation of a bullish candlestick pattern, which indicated the possibility of a reversal from previous pullbacks.
In the event that the current demand levels are maintained, Fantom may be able to challenge resistance levels, which may propel it towards higher objectives such as $0.7080 and even $0.9216.
