The Fantom price soared to an ATH on Monday as demand for the asset soared. The FTM coin jumped to an all-time high of $1.30, bringing its total market cap to more than $3.2 billion. It has risen by more than 87% in the past seven days, which has propelled it to become the 48th biggest coin in the world. It is currently placed between Kusama and BitTorrent.
Fantom is designed as a platform that enables developers to build custom decentralized finance applications. The network uses the Direct Acyclic Graph (DAG) smart contract platform that helps to improve the scalability of the network. The FTM is the primary token for the Fantom network. Its main utility is to secure the network using proof-of-stake technology.
The four-hour chart shows that the FTM price has been in a strong bullish trend in the past few days. The rally accelerated after the coin jumped above the key resistance level at $0.5968, which was the highest level on August 22.
On the four-hour chart, the coin managed to move above the 25-day and 50-day moving averages (MA) while the bullish momentum has continued. The price is also substantially above the ascending trendline shown in black.
Therefore, the Fantom price will likely maintain the bullish trend so long as the price is above the 2 moving averages. The next key level to watch will be $1.400. On the flip side, a drop below $1.1200 will invalidate the bullish view.
Fantom is designed as a platform that enables developers to build custom decentralized finance applications. The network uses the Direct Acyclic Graph (DAG) smart contract platform that helps to improve the scalability of the network. The FTM is the primary token for the Fantom network. Its main utility is to secure the network using proof-of-stake technology.
The four-hour chart shows that the FTM price has been in a strong bullish trend in the past few days. The rally accelerated after the coin jumped above the key resistance level at $0.5968, which was the highest level on August 22.
On the four-hour chart, the coin managed to move above the 25-day and 50-day moving averages (MA) while the bullish momentum has continued. The price is also substantially above the ascending trendline shown in black.
Therefore, the Fantom price will likely maintain the bullish trend so long as the price is above the 2 moving averages. The next key level to watch will be $1.400. On the flip side, a drop below $1.1200 will invalidate the bullish view.
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