Fantom (FTM) is a Layer 1 based project that aims to enable smart contracts in DAG based systems.
Within the scope of fundamental analysis, FTM, which is in the 29th rank in terms of volume in Coinmarketcap and has a supply of 3 billion 175 million, has a circulating supply of 2 billion 545 million. Fantom is also among the cryptocurrencies that can be staked on the DeFi platform.
Featured in the latest news, FTM has become the third largest blockchain in DeFi, surpassing Binance Smart Chain (BSC) in decentralized finance.
When we look at the past years in the phantom technical sense; While the price was at the level of $ 0.026 in January 2021, it rose to $ 3.47 in October 2021.
When we look at monthly and weekly in general, we can see that it is differentiated from other altcoins by preserving its parabolic structure and rising trend, which is often unaffected despite the decreases in parallel with the markets.
When we look at the price movements in the daily time frame, together with the falling trend coming from the $3.36 level, it is currently holding above the band range of $1.74 and $1.87, which coincides with both the MA (200) and the support level.
If there are no daily closes below this area, which is an important major support level, and with the break of the $2.28 and $2.59 level at the intersection of the MA (50) and MA (100), he may want to start a new uptrend until the next major resistance zone.
Otherwise, another scenario is if the EMA (200) is broken, the downtrend can continue until the support levels in the $1.26 – $0.97 region.
If we evaluate both fundamentally and technically, Fantom, which has grown rapidly in previous years, may cause us to see its positive effects on prices in the future, together with the positive news flow and developments that will take place in 2022.