FTM has had a massive few weeks. Prices have been on a rally over these last few weeks. The overall Fantom blockchain is still on this upwards trajectory, but experts are claiming that the price rally is on the way to a slowdown.
The upward momentum was sustained even in the last few days, but now FTM has faced rejection at $2.4 resistance. Today prices are down 6% to $2.2. This price has been seen over the last 24 hours.
But FTM prices may again go up to $2.4 in the coming days. The price is also expected to breach $3 at some point in the near future. But the sustainability of that price is questionable. The overhead resistance at $2.4 is expected to be a major obstacle that FTM may not be able to cross.
According to this Fantom price prediction, FTM has the potential to be a prominent player in DeFi. Its ability to grow will be dependent on developer acceptance. This indicates that it will be a volatile currency, notwithstanding its benefits.
At present, bulls are pushing the prices up slowly, and $2.4 may be breached soon, but there may also be a downward trend, and prices can sink below $2 as well.
Experts are in favor of purchasing FTM, compared to other cryptos like ADA. Fantom has been built to provide speed and efficiency and has been reporting high gains in the last few weeks. It’s still quite under-appreciated in the blockchain economy, but there is a lot of potential for future growth. At present, Fantom’s total market cap has been set at $5.3 Billion.
Fantom is a very lucrative crypto asset, but every investment decision in the crypto world has to be based on potential future risk analysis and the individual ability of the investor to sustain that risk.