Fantom is among the best gainers in the cryptocurrency market, with double-digit gains in the past 24 hours. The coin has been on a steady increase over the past month, which has led to the creation of new monthly highs. Whilst the all-time high is yet to be achieved, a continued bullish sentiment from the broader market could offer the needed support.
Fantom is trading at $0.84 at the time of writing after a 14.9% gain in 24 hours.
Fantom Price Analysis
Fantom has been a leading gainer over the past few weeks. Currently, FTM is headed towards breaking past its all-time high, which will be achieved if the current market and buying support continue.
The bullish sentiment will push FTM towards breaking past the upper resistance of $0.86 and $0.88. Buyers need to continue rallying support once these levels are achieved to enable the coin to head towards $0.90 and beyond.
FTM’s all-time high is around $0.94, which will be achieved when FTM makes a 12% gain. FTM had attempted to make such a rally in the past 24 hours, but it was rejected at $0.93. However, the current market support could see this being achieved again.
Fantom could also head to lower levels if there is weak support from the broader market or if traders increase selling pressure. If weak market support is established, FTM will head towards the lower support levels of $0.82. These levels could also be used to establish a bull run that will push FTM to new highs.
Decentralized finance has had a major role to play in the recent fantom upswing. Fantom recently launched a huge incentive program aimed at rewarding DeFi developers on the platform. To support developers building DeFi projects on Fantom, the platform has set aside 370 million FTM coins distributed to these developers.
Where to Buy FTM
If you want to buy FTM during the current upswing, you can open an account on the following platforms:
eToro is a renowned social copy trading platform. It supports a unique set of features such as low trading fees that make it easy for traders to profit. eToro also supports a wide range of cryptocurrencies and trading pairs, making it ideal for traders who want to diversify their portfolios.
You can also buy FTM coins from OKEx. OKEx is one of the largest exchange platforms, and it supports a wide range of altcoins. OKEx’s trading fees are low, and it offers user-friendly features.