Fantom Token FTM Breaks Resistance
Blockchain may gain from leader Ethereum
FTM buys low as prices rise
Now is the best time to invest in Fantom FTM/USD tokens. This is because FTM left a trail of $0.28, its lowest price. Of course, there is still a long way to go as FTM trades its own shell from all-time highs.
Fundamentally, Fantom benefits from developments in the crypto space. Investors may profit from the low prices. The cryptocurrency is trading at just $0.33. That’s well below last year’s all-time high above $3.50. Investors may be buying the dips for a chance to move higher.
Additionally, Fantom investors see an opportunity for smart contract layer 1 protocols. History shows that every time the price of ETH rises, alternative layers like Fantom rise. Investors see alternative layer 1 protocols as the best Ethereum alternative. They offer faster speeds and lower transaction costs. As a result, Ethereum gains could spill over to protocols like Fantom.
FTM breaks resistance to establish new support
Source – TradingView
Technically, FTM is very bullish after overcoming resistance at $0.28. The MACD indicator is also bullish. The cryptocurrency is now trading at $0.33. The price has yet to reach another major resistance level at $0.43.
Investors can buy at current price levels or take advantage of a small pullback. However, we believe the price of FTM is attractive and investors can snap up the token now.
Investor attention is turning to FTM due to its smart contract capabilities. The cryptocurrency has an attractive price and was bought after a key breakout.