The majority of the cryptocurrency market is trading in the green zone, and Fantom is one of these tokens. The cryptocurrency has gained 6% in 24 hours, increasing its value on trading charts. FTM gains are attributed to the support garnered from the entire crypto market.
At the time of writing, Fantom is trading at $0.22 on major exchanges.
Fantom Price Analysis
This year alone, FTM has gained by over 3000%, and even though the May crash led to some gains being lost, the token is trying to recover, just like the rest of the crypto market. On a 30-day period, FTM has dropped by 26%, and it is looking towards reversing those losses.
The current value of FTM at around $0.22 means that it has overcome the $0.20 critical support level. Going below such levels will be both good and bad for the token. First, it will create a new entry-level for buyers who want to go short, hoping the prices will rise again soon. Secondly, if the token goes further below that level, it may lead to great losses, especially if there is no more market support.
On the upside, the market may create an upsurge, with will boost altcoins, FTM included. Such an upsurge will be good for the coin because it will create higher resistance levels at $0.30 and later $0.40. Going past $0.40nwill mean that the market is recovering from the bears, and bulls are about to form.
The Fantom network is a smart contract platform that aims at solving scalability issues faced by the ongoing distributed ledger technologies. The Fantom network strives to stand out from the traditional block ledger-based technologies by using DAG-based protocols.
Fantom uses the Lachesis protocol for consensus. The protocol is integrated into the Fantom OPERA Chain to allow the development of applications. Users on the chain also enjoy almost zero transaction costs. The uniqueness of this platform will boost value for Fantom in the near term, especially when adoption for the token increases.
Where to Buy FTM
Those who want to purchase Fantom tokens can do so from the below crypto exchanges:
One of the exchanges where you can buy FTM tokens is eToro. eToro has a copy trading feature that allows new traders to copy those already experts in the field. Furthermore, eToro offers competitive trading fees and ease of use.
The other exchange where you can buy FTM tokens is Binance. Binance is the largest global exchange, and it gives users access to a large number of crypto trading pairs. Binance also offers some of the lowest trading fees.
Looking to buy or trade Crypto now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provider