Fantom (FTM) rally is slowing but the coin remains well on course towards $3 in the near term
Fantom (FTM) has remained one of the best-performing crypto assets in the last few weeks. There was of course some major news on the chain but the general trend was up. However, we are starting to see the rally slow a bit. Here are some highlights:
After showing decent upward momentum in the last few days, FTM has been rejected firmly on the $2.40 resistance.
At press time, the coin was trading at $2.2 down about 6% for the last 24 hours.
We expect Fantom (FTM) to retest the $2.4 threshold again in the coming days.
Data Source: Tradingview
Fantom (FTM) – Can it surge to $3?
Well, it is entirely possible for FTM to hit the $3 mark in the coming days. However, the coin will need to surge above the stiff overhead resistance of $2.4. Bulls did manage to push the price action above that threshold but could not sustain gains for long.
As a result, FTM has tanked by about 6% in the last 24 hours, bringing the coin to $2.2 at press time. We expect the token to retest $2.40 in the coming days.
If indeed bulls are able to push above that and keep the gains there, then Fantom will surge past $3. But if there is weakness, we may see the token plunge towards its next demand zone below $2.
Why you should buy FTM now?
Fantom (FTM) is an innovative blockchain project that hopes to offer better speeds and efficiency. It is one of the most underrated chains, and yet it continues to post gains after gains.
Right now, its native token FTM has a market cap of around $5.3 billion. This is a coin that still has so much room to run and in fact, it is one of the most promising crypto assets to buy.
The post Fantom (FTM) rally is slowing but the coin remains well on course towards $3 in the near term appeared first on Coin Journal.
