BlocksInform
Fantom is a highly evolutionary single-layer blockchain platform for decentralized, challenging and enterprise applications. At the time of writing, FTM was trading around $0.475 in the top bands of Bollinger, suggesting a continuation of that uptrend to the $0.7 resistance.
During the last eight months, Fantom has consolidated between $0.44 and $0.16. Click here to know when the FTM token will cross the $0.7 mark!
The majority of ftm technical indicators are bullish, which are also supported by positive prices, making it an ideal time to invest with a higher goal for the coming months. If the ftm price drops from that level, support will need to be around the $0.4 level.
However, it is interesting to analyze the weekly price chart of Fantom because the last few weekly candles have broken the upper Bollinger Bands, which means it will correct in the next few months, and the support can be anywhere around $0.4.
Based on the price action, FTM has the potential to touch the target of $0.6, but technical indicators suggest it will not touch this level in the short term. However, It is interesting to analyze the graph of weekly prices of Fantom because the last weekly candles broke the top bands of Bollinger, This means that it will be corrected within the coming months, and media can be anywhere around $0.4.Course-based, FTM could achieve the $0.6 target, but technical indicators indicate that this level will not be achieved in the short term.
The price of Fantom needs support around $0.40 before dealing with the next resistor around $0.6.
The coming months are crucial for crypto markets because some of the cryptocurrencies are going to break the resistance in the long run, This allows you to keep these cryptocurrencies on your watchlist to invest at the right time. If you are an active merchant, 2023 can be a year for you because crypto markets are going to be volatile. Otherwise, you should invest in crypto biggies like bitcoin and ethereum to gain in the long run.
