Fantom (FTM) is at the moment on an explosive development uptrend. The token has in truth gained 72% during the last 7 days, surging properly past analysts’ estimates of round $2. On the time of writing, FTM was buying and selling at $2.33, and there’s nonetheless much more to return. Moreover, different underlying fundamentals are wanting fairly optimistic. Listed below are some highlights:
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Fantom (FTM) is the second-best 7-day performer among the many prime 40 cryptocurrencies by market cap, coming solely second to the NEAR protocol which is up virtually 80%.
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Fantom (FTM) has additionally seen a surge in Complete Worth Locked (TVL) this week, rating solely second to Terra (LUNA)
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The present bullish uptrend has not but peaked and will nonetheless go additional earlier than the top of 2021
Knowledge Supply: Tradingview.com
Fantom (FTM) – Worth motion and evaluation
At press time, FTM was buying and selling at $2.33, up about 1.3% in intraday buying and selling. The coin can also be up almost 73% during the last 7 days. FTM has outperformed your entire market by a mile and can also be beating its rivals like Solana (SOL) and Avalanche (AVAX) which have additionally posted first rate double-digit good points the previous week.
Additionally, FTM has swept previous all of the essential 50, 100, and 200 DMAs. In reality, we have been anticipating some resistance across the 200-day transferring common, which is round $2.04, however to this point, the worth motion means that FTM is probably going going to maintain its current good points above that threshold.
Do you have to purchase Fantom (FTM)
While you have a look at whole worth locked (TVL) in FTM, particularly during the last week, it’s clear that Fantom (FTM) is on the rise. Sure, it might nonetheless must double its TVL to meet up with Solana (SOL) or Terra (LUNA), however nonetheless, the longer term potential is great. FTM is a perfect asset for the long-term investor. I’d, nonetheless, wait a couple of days for the present bullish pattern to lose a little bit of momentum and see if there are any dips.