Fantom (FTM) Price Prediction – When will FTM hit $3?

The broader crypto market passed a gloomy year in 2022 and the FTM has been among the top losers.

Fantom (FTM), which is a smart contract platform of DAG-base, has declined by almost 30% from the November 2022 peak. This value depreciation is a direct consequence of contradictional news about the platform and crypto winter. Thus, Fantom core network’s development delay influenced investors to lose confidence in the project. 

However, the Fantom (FTM) impoverished performances at the beginning of this year. The value of FTM has declined by 94% in the previous year while declaring an uncertain future. Despite the terrific price decline, it is not the absolute reason that the FTM is confronting troubles. 

The conflicts of FTM has gained as some of these networks have already disclosed their coalition or revealed their native or digital tokens. These evolutions make it more troublesome for FTM to fascinate fresh investors and sustain its reputation as the top blockchain platform in the crypto industry. 

The Fantom price today has a circulation supply of 2,768,193,082 FTM, while the maximum supply is 3,175,000,000 FTM. 

Should you invest in FTM/USD from the discounted price?

Let’s see Fantom (FTM) Price Prediction from the FTM/USD technical analysis:

Fantom (FTM) Bulls Await A Valid Breakout

 

On the daily chart, the FTM/USD is trading within a symmetrical triangle formation while the overall outlook is bearish.

A massive bearish leg is seen from the August 2022 swing high, while another lower low in November. Since then the price went corrective, with no new higher high formation.

The extreme correction in December and January pushed the price to move within a triangle formation, which is a sign that bulls and bears are struggling to set the momentum.

On the buyers' side, the positive side is the high volume level, which is below the current price. The November- January highest activity level is marked at 0.2051 level. It is a sign that a strong bullish breakout from the triangle resistance could come with institutional traders’ interest.

Based on the daily Fantom Price Prediction, a bullish daily candle above the triangle resistance with a rebound of ADX above the 20.00 level would offer a long opportunity. In that case, the primary profit target would be towards the 0.3000 level.

The bullish possibility is potent as long as the price trades above the 0.2051 high volume level. If bears show a strong interest and manage to close the daily candle below the 0.1903 support level, we may consider the upcoming trend direction as bearish towards the 0.1636 level.

Fantom (FTM) Offers A Bullish Trend Continuation Opportunity

The above image shows the H4 chart of Fantom (FTM), where the current price is trading within a bullish impulsive wave backed by a strong consolidation. A strong range was seen from 16 December 2022 to 3 January 223, from where a bullish breakout appeared. Therefore, as the current price is trading within a bullish trend, any buying opportunity could be potential.

This technical analysis shows how the upper Bands and Lower Bands of the Bollinger Bands indicator remained upside, while the current price is also above the middle band. In the indicator window, the Relative Strength Index (RSI) is also supportive of bulls as it is above the 50% area.

Based on the H4 FTM Price Prediction, a minor bearish correction and another bullish rejection from the middle Bollinger Bands coil offer a  long opportunity, targeting the 0.2600 level.

The alternative trading approach is to wait for the price to come below the 0.2123 level and form a bearish H4 candle. In that case, a short opportunity will be open, which can drag the price down toward the 0.1900 level.

Fantom (FTM) Intraday Price Action Analysis

 

In the intraday price action of FTM, the overall outlook is bullish as the current price is trading above the visible range high volume level.

The dynamic 20 EMA and weekly VWAP are working support while the price is aiming higher with a rally base rally formation. Meanwhile, the Traders Dynamic Index shows buying pressure as the current TDI level is aiming higher from the neutral area.

Based on the current FTM Forecast, a bullish trend extension is possible as long as it trades above the 0.2038 high volume level. On the other hand, a break below the 0.2000 area could eliminate the buying possibility and lower the price towards the 0.1900 area.

Is Fantom (FTM) A Buy?

Based on the Fantom (FTM) Coin Price Prediction, the buying possibility is potent in the FTM/USD daily price as the recent candles show a buyers’ presence in the market from the triangle resistance. However, investors should observe the market, where a bearish correction in the intraday price is needed to form a stable bullish opportunity.

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