Most of the crypto market is trading in the red zone after most coins shed the gains made in the past week. However, some altcoins are still making solid gains and heading to new highs. Fantom is one of the altcoins still making gains despite the slight market retreat.
Fantom is trading at $0.404 at the time of writing after a 6% gain in 24 hours.
Fantom Price Analysis
FTM is headed towards making massive gains if the current uptrend holds. In the past seven days, fantom has gained more than 45%, which is a strong signal that the coin could reach a new high if bulls keep up.
If this uptrend holds, we could see FTM breaking past the next resistance of $0.45. Going beyond this level will depend if there is buyer support. Currently, market support is lacking, given that BTC has retreated slightly to $45K, but the FTM gains show that buyers are still driving the bulls.
On the other hand, further dips in the broader market could trigger a dip in FTM prices. If this happens, we could see the coin dip towards $0.38 and $0.36. If there is a lack of support at this level, we could see FTM retest lower levels below $0.30.
Fantom is a scalable smart contract platform. The network prides itself on offering scalability, security and decentralization. It also seeks to provide solutions to prevalent issues faced by earlier blockchains. According to the network’s website, it seeks to mainly work on enhanced scalability and security objectives to emerge as one of the leading blockchain platforms that can be used by DeFi, dApps and other enterprise solutions.
Where to Buy FTM
if you want to purchase FTM coins, you can do so on the following exchange platforms:
eToro is one of the leading cryptocurrency exchange platforms. It supports a wide range of features such as low trading fees and copy trading. This enables new traders to have better chances of making profits. eToro is also registered in many countries; hence its services are easily accessible.
The other cryptocurrency exchange that supports FTM is Binance. Binance is the largest global exchange platform. It supports a wide range of cryptocurrencies and trading pairs. Binance’s trading fees are also low, and it has a user-friendly interface that promotes easy trading.
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