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Fantom Crypto Price Prediction 2022 – FTM Up 14.5%

Fantom Crypto Price Prediction 2022 – FTM Up 14.5%

Fantom Crypto Price Analysis

Fantom Crypto (FTM) has seen huge price momentum over the last 24 hours resulting in a 14.5% pump to the upside on the Binance exchange. This is the result of a breakout to the upside of the descending channel on the crypto charts.

The above chart also reflects that we broke out of a slanted double bottom pattern. This is also known as a bullish reversal pattern where the price is likely to trend up

If we can consolidate at the current $0.33 price levels we may see another impulse wave to $0.50 for Fantom. My favourite place to dollar cost average on Fantom (FTM) is with eToro.

Cryptoassets are a highly volatile unregulated investment product.

Fantom Crypto (FTM) Price Prediction 2022

At the time of writing this article Fantom Crypto is trading at a respectable $0.33 with a market capital of $839 million. We are still down just over 90% from the all time high of $3.49 set on the 28th October 2021.

On the 13th June 2022 Bitcoin crossed the 200-week moving average. This caused chaos in the markets and resulted in a major crypto crash. Since then, Fantom Crypto (FTM) has performed quite well and is up over 69%.

Fantom Crypto (FTM) is now currently forming a bullish pattern known as a bull-flag on the hourly time frame. This means it is quite likely we will see another pump to the upside.

Fantom Crypto Bull Flag Formation

Ftm-Usdt – 1-hour Time frame.

If Fantom Crypto (FTM) successfully breaks out of the resistance level of $0.337 things could move very quickly. The technical price target of the bull flag formation would take us to around $0.39. I would expect the price to reach this level by the end of July.

Despite the bullish price action I will admit I am quite cautious of the overheated relative strength index on the 4 hour time frame. This now sits at 79 indicating we are overbought and could potentially see a short-term pull back in price soon. Fantom Crypto (FTM) is also overextended on the 20-day moving average, which supports that things have moved too quickly.

The CEO of Eight Global, Michael van de Poppe also believes Fantom Crypto (FTM) may be on it’s way to $0.50 over the next few weeks.

Michael van de Poppe Twitter.

This type of exposure will help create traction and overall network growth for Fantom Crypto (FTM). As a result, this makes me feel very bullish for Fantom’s future.

Fantom Crypto (FTM) Video Analysis

If the sentiment of the crypto markets can flip bullish over the next few weeks I would think many altcoins may see a nice short-term rally. Fantom Crypto (FTM) could certainly be one of them too. The current low price levels create high investment appetite for traders and new investors.

What is Fantom Crypto (FTM)?

Fantom Crypto is “a fast, high-throughput open-source smart contract platform for digital assets and dApps”. Some of the unique selling points of the project comprise of its speed, security and insane scalability. Already since the launch of Fantom Crypto over 200 dApps have been deployed on the ecosystem.

The dApps deployed across Fantom are limitless and the more dApps that are created the more daily users are seen across the network. For example you will find DEX’s, Cross-chain Bridges, NFT Platforms, GameFi and much more.

In technical terms Fantom is a smart contract platform that provides decentralized finance (DeFi) opportunities to developers using its own unique consensus algorithm. The native token of Fantom is FTM and the network strives to solve problems in relation to smart contract platforms. One of the biggest achievements of the Fantom ecosystem is that they have managed to get transactions reduced to below two seconds.

The total supply of FTM is 3.175 billion tokens. Currently there are 2.55 billion tokens in circulation. The founders of the Fantom Foundation and the team have quintessential experience in blockchain development.

Even though Fantom Crypto has corrected over 90% from it’s all time high the future of Fantom seems to be very bright. The long-term growth potential is supported by the protocol upgrades and vast amount of dApps being deployed on the ecosystem.

Fantom Crypto is listed on eToro.

Cryptoassets are a highly volatile unregulated investment product.

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Source: Business 2 Community