The price of Fantom (FTM) is on the rise, but some experts believe it could hit $1 by 2021. This is based on the belief that mainstream adoption of Fantom will be rapid, and the price will rise accordingly. But, will Fantom hit $1 soon? Or will it fall back to its current price? We will be here to help you with the answer.
After the huge success of last month’s low-cost FTM-1 chips, the price of the flagship model FTM-1X will be able to reach $1,000 in 2021.
As of today, the FTM price is sitting at around $0.236 USD. Since the FTM has been in existence since the end of 2017, it can be assumed that the FTM price has been rather flat, with only minor fluctuations. As a result, there is a lot of room for growth. If we assume the FTM price will grow by a median x1.5 over the next year, we can expect a price of around $0.768 USD in a year from now.
- The range of bullish FTM price predictions is $0.417 to $0.967.
- The FTM price may potentially go up to $1.
- For 2021, the FTM bearish market price forecast is $0.139.
We utilize data, price trends, ADX, and other information about FTM to evaluate the cryptocurrency’s future movement in FTM price forecast 2021.
Fantom is a directed acyclic graph (DAG) smart contract platform that was designed to solve the limitations of previous-generation blockchain systems.
Fantom also boasts impressive levels of security, thanks to a leaderless Proof-of-Stake mechanism that protects the network. Fantom prioritizes security and decentralisation above scalability, unlike many other current initiatives.
Fantom’s Current Market Situation (FTM)
At the time of writing, the price of FTM was $0.2577, with a 24-hour trading volume of $40,365,248 according to Coingecko. FTM, on the other hand, has risen to 1.05 percent in the past 24 hours.
Furthermore, there are 2,545,006,273 FTM coins in circulation. FTM currently trades on Binance, Tokocrypto, OKEx, FTX, and HitBTC, among other cryptocurrency exchanges.
Price Prediction for Fantom (FTM) in 2021
Fantom (FTM) is currently ranked 110th on CoinGecko. With a daily time period, FTM price forecast 2021 is described below.
The price movement confined between two parallel upward sloping lines is known as an ascending channel. Higher highs and lower lows characterize this pricing trend. An ascending channel is formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.
Price does not always develop completely inside the parallel lines of an ascending channel, but instead displays regions of support and resistance that traders may utilize to place stop-loss orders and profit objectives. A breakthrough above an ascending channel may suggest that the rising trend will continue, while a breakdown below an ascending channel may signal that the trend may shift.
FTM is now trading at $0.2577. Following that, FTM may continue to decline or climb, depending on the breakout direction. With this pattern, FTM may soon hit the $0.94 resistance level. FTM’s price may fall below $0.12 if the trend reverses.
Support and Resistance Levels for Fantom (FTM)
The chart below depicts Fantom’s support and resistance levels (FTM).
Support and Resistance Levels for FTM/USDT (Source: TradingView)
The following are the resistance and support levels of FTM, as shown in the preceding chart.
- $0.417 is the first level of resistance.
- $0.967 is the second level of resistance.
- Level 1 Support – $0.139
- Level 2 Support – $0.040
FTM’s bullish performance during the preceding month is shown in the chart. However, this trend will eventually hit the $0.94 resistance level. FTM, on the other hand, may fall below $0.12 if the trend reverses, signaling a negative indication.
Average Directional Index of Fantom (FTM) (ADX)
Let’s have a look at the Average Directional Index of FTM (ADX). The ADX, in particular, aids traders in assessing the strength of a trend as opposed to its direction. It may also be used to see whether the market is shifting or if a new trend is forming. However, it is connected to the Directional Movement Index (DMI).
The oscillator also has a range of 0 to 100. Furthermore, a high number indicates a strong trend, while a low value indicates a weak trend. It’s also often used in conjunction with directional indicators.
The ADX of FTM is shown above, with the range at 23.97, indicating a weak trend.
The FTM is a cryptocurrency that is ideal for long-term investment. Furthermore, until the breakout direction is verified, FTM price forecast will remain bearish or bullish. However, it has a strong possibility of hitting $0.94 this year, and if the trend continues, FTM may possibly achieve the next goal of $3.94. This, however, will only happen if a number of prior psychological obstacles are overcome.
Furthermore, with the advances and updates to the FTM ecosystem, FTM’s performance is expected to increase to $0.94 in the near future. However, if investors think that FTM is a solid investment in 2021, it might hit $1.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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The Fantom Foundation is scheduled to launch its $1 coin sometime in 2021, but will it even hit $1? There are a lot of questions that need answering before we know for certain, but based on current trends, we could see a price of around $1 by then.. Read more about ftm price prediction 2022 and let us know what you think.
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