Fantom Price Prediction 2021 – Will FTM Hit $1 Soon?

Fantom Price Prediction 2021 - Will FTM Hit $1 Soon?
  • Bullish FTM price prediction ranges from $0.417 to $0.967.
  • The FTM price might also reach $1.
  • FTM bearish market price prediction for 2021 is $0.139.

In FTM price prediction 2021, we use statistics, price patterns, ADX, and much other information about FTM to analyze the future movement of the cryptocurrency

Fantom is a high-performance, scalable, secure, and directed acyclic graph (DAG) smart contract platform that was created to address the shortcomings of previous-generation blockchain platforms.

Fantom also provides remarkably high levels of security by securing the network with a leaderless Proof-of-Stake protocol. Unlike many other existing projects, Fantom prioritises security and decentralisation over scalability.

Current Market Status of Fantom (FTM)

According to Coingecko, the price of FTM is $0.2577 with a 24-hour trading volume of $40,365,248 at the time of writing. However, FTM surged to 1.05% in the last 24 hours.

Moreover, FTM has a circulating supply of 2,545,006,273 FTM coins. Currently, FTM trades in cryptocurrency exchanges such as Binance, Tokocrypto, OKEx, FTX and HitBTC. 

Fantom (FTM) Price Prediction 2021

Fantom (FTM) holds the 110th position on CoinGecko right now. FTM price prediction 2021 explained below with a daily time frame. 

FTM/USDT Ascending Channel Trend (Source: Tradingview)

An ascending channel is defined as the price action contained between two parallel upward sloping lines. This price pattern is distinguished by higher highs and lower lows. An ascending channel is created by drawing a lower trend line that connects the swing lows and an upper channel line that connects the swing highs.

Price does not always remain entirely formed within the parallel lines of an ascending channel, but instead shows areas of support and resistance that traders can use to set stop-loss orders and profit targets. A breakout above an ascending channel may indicate a continuation of the upward trend, whereas a breakdown below an ascending channel may indicate a change in trend.

Currently, FTM is waving at $0.2577. After this, FTM may continue to fall or rise according to the direction of breakout. With this pattern, FTM might reach the resistance level at $0.94 soon. If the trend reverses, then the price of FTM may fall to $0.12.

Fantom (FTM) Support and Resistance Level

The below chart shows the support and resistance level of Fantom (FTM). 

FTM/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support level of FTM.

  • Resistance Level 1 – $0.417
  • Resistance Level 2 – $0.967
  • Support Level 1 – $0.139
  • Support Level 2 – $0.040

The chart depicts the bullish performance of FTM over the previous month. However, this trend will continue to reach resistance level at $0.94 soon. On the contrary, if the trend reversed then FTM might fall to $0.12 presenting a bearish signal.

Fantom (FTM) Average Directional Index (ADX)

Let us now look at FTM’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

FTM/USDT ADX (Source:TradingView)

The above chart represents the ADX of FTM with the range at 23.97, so it indicates a weak trend.

Conclusion

The FTM is one of the cryptos which is great for long-term investment. In addition, FTM price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $0.94 this year, similarly FTM might also reach the next target at $3.94, if the pattern continues. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the FTM ecosystem, the performance of FTM would rise reaching $0.94 very soon. But, it might also reach $1 if the investors believe that FTM is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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