Why It Can Be the Best Opportunity to Invest In FTM Crypto?

• The FTM crypto is trading with flat open interest followed by the last 24 hours.
• The Fantom crypto has advanced by 30% in the last 30 days.

Fantom is a DAG-based smart contract platform that offers fast, secure, and cheap transactions and DeFi services. It uses a custom consensus mechanism called Lachesis and an EVM-compatible layer called Opera. It has a dual token system of FTM and KCAL. It was founded in 2018.

The FTM has a market cap dominance of 0.058% as per the Coingecko. The current volume/market cap ratio of the crypto is 0.0699 and the market cap rank of the crypto is #62. The crypto price is still 16,245% above its all-time low price.

The trading volume of the Fantom crypto has declined by 20% in the last 24 hours. This has further resulted in an advance of 4.5% in the market cap valuing $874.865M. Moreover, the circulating supply of the crypto is 2.803B FTM. 

The derivative trading volume of the FTM crypto has declined by 28% and the crypto has witnessed a long liquidation of $18.88K. Moreover, the short liquidation of the crypto is $211.76K and the long/short ratio of the crypto is 1.0044.

Donations Analysis For Fantom Crypto

As per the data of the Dune crypto, the donations for the token have advanced over time following the increase in the number of donors. The total number of recorded unique donors is 16,344 resulting in a donated FTM of $294,299. It shows that the community is showing interest in the FTM crypto and there is significant activity going on among the crypto community.

FTM Crypto Technical Analysis

The FTM crypto is trying to rebound from lower levels and the price has advanced by more than 75% from the most recent swing low. The price is currently facing resistance at the higher level of 0.4050, which is acting as a crucial resistance. 

FTM/USD Chart by TradingView

On the daily timeframe chart, the FTM crypto is making a bullish pattern leading to a higher high swing. 

The price of the crypto also has broken out above the 50-day and the 200-day EMAs leading to a fresh golden crossover. This behavior of the EMAs indicates that the market price is trading in a bullish trajectory. 

The MACD is also showing the potential for a rise in the price with the lines trading above the zero level. Despite this, the signal line is trading below the MACD line indicating a possibility of retracement in the FTM crypto price.

Conclusion

The FTM crypto is in a strong uptrend and has a high potential to reach new highs. The price has broken above the key resistance and the moving averages, indicating a bullish momentum and trend. The MACD is also positive, although it may indicate a minor correction before the next rally.

Therefore, the FTM crypto price might advance to new highs in the upcoming days.

Technical Levels 

• Support levels- $0.17420 and $0.2895
• Resistance levels- $0.5474 and $0.6828

Disclaimer

The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.