Hi Readers,

All of us know well that Fantom (FTM) is a Directed Acyclic Graph (DAG) based Smart Contract platform for Defi applications that aims to solve the scalability issues of distributed ledger technologies. It aims to make smart contract transactions faster with its innovative technology.

As covered in my earlier post, Fantom (FTM) is one of the fundamentally strong cryptos that has been listed in all the major Crypto Exchanges.  You could also observe that FTM was one of the most rewarding cryptos with its price hike during few years back. 

With the crypto crash in 2022, FTM was also tumbled a long and it traded in the lower side for almost a long period of time from $ 0.2-$ 0.3.

But for the last the couple of week FTM has shown some strength and started to move upwards from this January 2023. 

At the time of writing this article, FTM trades at $ 0.5373, a down of 3.70% from yesterday with the trading volume down by 12.60%. 

Ranked 40 according to the marketcapitalisation by coinmarketcap website, FTM touched the ATH at $ 3.48 on Oct 28, 2021 . FTM went to ATL at $ 0.001953 on March 13, 2020. 

FTM is trading currently a lower of 84.50% from its ATH and a high of 27524.34% from its ATL. The RoI stands at 3636.50%. 

While we have witnessed a continuous rally from $ 0.18 from the last couple of weeks, it made a high of $.0.6533. 

If we analyze the technicals with the chart, FTM has a resistance of 0.65. In the downside, it has a strong support of $.044.  The FTM would do the consolidation and trade sideways for some time. 

But, in the near time, it would certainly break the resistance of $ 0.65 and would trade higher in the longer run to reach around $1. 

The Relative Strength Index (RSI) is at 40.682. 

While most of the technical indicators does not support for buying, if we get into the Moving Averages, it signals for buying.

But, crypto markets are very difficult and no one can exactly predict the ways in which the Crypto would travel in the future amidst the increasing geo-political tensions, raising inflation and uncertain policy frameworks on crypto eco-system. 

Have an eye on FTM's movement and keep it in your watchlist!