Fantom Crypto Price Prediction 2022 - Will FTM Pump Further?
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Fantom has been a strong pumper in the blockchain markets moving over 9.5% in the last 24 hours.
The price of Fantom (FTM) is now $0.236 and the bulls are teasing a recovery back up to $0.30.
Many traders speculate that a major catalyst to the bullish price action is from the recent BitTrue announcement where FTM can now be staked for 7% APY.
It is important to remember that Fantom is still down 93% from its all time high of roughly $3.45, whilst these short moves offer euphoria, it is important not to chase the green candles as we delve deeper into unknown volatilities of the crypto bear market.
The sentiment around Fantom crypto is rather bullish this week as the price climbs up from lows of $0.17 to up to a high of $0.243.
Fantom (FTM) crypto is currently trading in an ascending channel pattern which can also be considered as a bullish continuation pattern.
As we can see FTM crypto is printing higher highs and higher lows simultaneously as the price creeps up higher and higher.
Although we can see that each time Fantom (FTM) crypto is having struggles to break through the resistance trendline of roughly $0.25.
A key technical target for the bulls would be roughly $0.261 if we can retest resistance one more time. A successful breakout should bring the price of Fantom (FTM) crypto to $0.273.
The bearish scenario is that Fantom (FTM) crypto loses bullish momentum and spirals back down to the support trendline of the ascending channel at roughly $0.236.
I speculate that the upside potential for 2022 is very much limited following the FTX crash and extreme fear that still lingers
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