In this Fantom (FTM) price prediction for 2024, 2025-2030, we will analyze the price patterns of FTM by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Fantom (FTM) Current Market Status
What is Fantom (FTM)
Fantom (FTM) is the native cryptocurrency of the Fantom blockchain. It exists both as an ERC-20 token and a BEP-20 token confirming that it is compatible with both Ethereum and Binance Smart Chain (BSC) blockchains.
Fantom is a layer-1 EVM-compatible smart contract-based blockchain that was launched in 2019. The blockchain operates on a specialized proof-of-stake (PoS) consensus protocol called Lachesis. Lachesis is an asynchronous Byzantine Fault Tolerant (aBFT) PoS protocol that is based on a directed acyclic graph (DAG) algorithm.
Fantom 24H Technicals
Fantom (FTM) Price Prediction 2024
Fantom (FTM) ranks 50th on CoinMarketCap in terms of its market capitalization. The overview of the Fantom price prediction for 2024 is explained below with a daily time frame.
In the above chart, Fantom (FTM) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Fantom (FTM) was recorded at $0.3715. If the pattern trend continues, then the price of FTM might reach the resistance levels of $0.4027, and $0.5703 and $0.9388. If the trend reverses, then the price of FTM may fall to the support of $0.2600.
Fantom (FTM) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Fantom (FTM) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Fantom (FTM) for 2024.
Fantom (FTM) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (FTM) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Fantom (FTM) market in 2024.
Fantom (FTM) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Fantom (FTM) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Fantom (FTM).
Comparison of FTM with BTC, ETH
Let us now compare the price movements of Fantom (FTM) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of FTM is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of FTM also increases or decreases respectively.
Fantom (FTM) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Fantom (FTM) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If Fantom (FTM) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Fantom (FTM) price prediction for 2024 is $1.0271. Comparatively, if unfavorable sentiment is triggered, the bearish Fantom (FTM) price prediction for 2024 is $0.1770.
If the market momentum and investors’ sentiment positively elevates, then Fantom (FTM) might hit $2. Furthermore, with future upgrades and advancements in the Fantom ecosystem, FTM might surpass its current all-time high (ATH) of $3.48. and mark its new ATH.
This content was originally published by our partners at The News Crypto.