Fantom is among the top gainers of the past 24 hours. During this period, the coin’s double-digit gains have pushed it to a new all-time high, and it is still trading at these high levels. The altcoin is enjoying both buyer and market support; hence its uptrend is expected to continue, and new highs could be realized.
Fantom is trading at $2.44 at the time of writing after an 11.1% gain in 24 hours.
Fantom Price Analysis
Fantom is expected to retest its all-time high of $2.48, which was achieved on October 19. Market and buyer support are currently strong; hence, FTM has a high chance of creating a new all-time high.
If the gains progress, the next target for the altcoin is $2.50 and then $2.55. A higher target lies at $2.75, which could also be reached if the coin does not suffer any selling pressure from traders who bought because of the bulls. Over the past month, FTM has gained over 80%, which signifies major buying support.
On the other hand, the high monthly jumps could trigger a price correction. In this case, FTM could drop towards the lower support level of $2.40. The altcoin could also dip to the lows of $2.30 if it fails to maintain the gains made during the past 24 hours.
The FTM token has been rallying over the past few weeks because of the adoption of its blockchain. The most recent was the adoption by Yearn Finance, where Fantom’s blockchain will be used to help Yearn Finance improve its decentralized finance (DeFi) capabilities.
Fantom is one of the scalable networks in the crypto space, and with the growth of DeFi, the network is well-positioned to attract developers who want to enjoy fast speeds and low costs. Adoption of the Fantom network will have a positive effect on FTM prices.
Where to Buy FTM
To buy FTM during the current bulls, you can open an account on the following exchanges:
eToro is a leading cryptocurrency exchange platform. It comes with support for a wide range of cryptocurrencies. eToro charges low trading fees and supports features that as copy trading that enable new traders to learn more about crypto trading strategies.
You can buy FTM from OKEx. OKEx is also one of the largest exchanges. It is licensed in many countries and has a broad offering of cryptocurrencies a trader can invest in. OKEx also has a user-friendly interface that makes it easy to use the platform.
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