Pratik Bhuyan
Since the beginning of the previous year, Fantom network, which is a smart contract platform designed to compete with the likes of Ethereum and Solana, has been through a whirlwind of activity. The price of Fantom (FTM) has been quite volatile over the past few months, but based on what analysts have examined–this trend may continue–albeit a possible bull run may be lurking ahead.
Fantom (FTM) Price Eyeing Bull Run?
According to an analysis that was released recently by cryptocurrency expert Michael van de Poppe, FTM’s price is on the verge of a significant breakout in the upcoming quarter.
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But, before that happens, he points out that as the token is currently undergoing a customary standard correction, its value might drop even further if the overall crypto market declines. In addition, he adds that the levels of $0.40 and $0.36 present a significant buying opportunity for investors, if such a situation arises.
Well, $FTM is still having a pretty standard correction and I’m expecting another bull phase on this one in the coming quarter.
Hit first point of interest, might drop bit more if markets do.
In that case, buying around $0.40 and/or $0.36. pic.twitter.com/7lEFiQXe4J
— Michaël van de Poppe (@CryptoMichNL) February 27, 2023
FTM’s Stablecoin Launch To Boost Rally?
The recent advancement that FTM has made in the stablecoin space can add further fuel to the bull run. Advocates of Fantom are banding together in preparation for the upcoming release of fUSD Version 2. Fantom’s goal with fUSD Version 2 is to make the system more appropriate for developers by providing assistance with planning and budgeting for those developers.
The optimism that has been generated around the flagship altcoin has contributed to its recent price appreciation. In the past few weeks, there has been a considerable gain in Fantom (FTM), which has resulted in the market cap reaching approximately $1.3 billion at press time.
Additionally, as summarised by the moving averages, FTM’s technical analysis (TA) indicators at CoinGape’s price tracker show a neutral position, recommending a “neutral” at level 9 and a “buy” at level 8. As things currently stand, the price of FTM is trading at $0.469, which represents an increase of 2.14% over the last day compared to a drop of 11% over the previous seven days.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
