The crypto market was bearish during the last few weeks of 2021. However, some coins outperformed the rest of the market, and they have moved to 2022, maintaining a slightly bullish trend. Fantom has made notable gains in terms of network adoption and FTM prices.
Fantom is trading at $2.36 at the time of writing after an 11.2% gain in 24 hours.
Fantom price analysis
FTM has been attempting to make gains during the past few weeks. However, the altcoin has failed to register any substantial gains because of the recession that is currently happening across the market.
FTM will be headed towards a strong uptrend of the buyer support continues to hold. In this case, the token could push towards the highs of $2.40. This is the major resistance level for the token, which could be achieved if the buyer support holds. From this price, the next target level will be $2.50, which could also arise from both buyer and market support.
There is also the chance that FTM could fail to register substantial gains. In this case, the altcoin could undergo a slight correction due to the current false breakout. This will drag FTM towards the lower support of $2.25.
Fantom has been making major gains because of the potential of its layer one network. As developers seek to achieve scalability and run away from Ethereum because of high gas fees, Fantom has recorded a notable rise in adoption.
Fantom is currently the sixth-largest blockchain network in total value locked (TVL). The network’s TVL stands at $6.19 billion, according to DeFi Llama, which is a 9% increase during the past 24 hours. The boom in TVL comes from the increased adoption of the platform by DeFi developers.
Where to buy FTM
To buy FTM, you can create an account on the following exchanges:
You can buy FTM from eToro. eToro is a leading crypto exchange platform. It has user-friendly features such as copy trading that allow new traders to copy the strategies used by expert traders.
You can also buy FTM from OKEx. OKEx is one of the largest exchange platforms. It has a user-friendly interface that makes it easy for traders to use the platform. Its trading fees are also competitive.
Your capital is at risk.
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