Fantom has been adding to their value once again after the cash-dry October of 2020. That being so, do you think we are going to see Fantom rise again in 2022?
Fantom suffered from a recent drop in token prices. This was unrelated to the project’s current goals, which is to create a smart contract engine with the goal of improving scalability and transaction costs on existing blockchain-based systems.
Tera (LUNA) responded to Bitcoin’s extreme, six-month correction by dropping from $69,000 to $26,000, but is now steadily returning to the November price point.
What is the future of FTM going to be like?
Fantom was previously pushed up to $1 and will likely rise this time it hits that level too.
It’s possible that Fantom hit the bottom at $0.23 to $0.24, as Bitcoin bounced from the area of $26,000 in May (closer to $25,000 on some perpetual futures pairs) to reclaim the $30,000 level.
The 1.382 Fib level is about $0.15, so if a retest should occur in 2022 then the lows set in mid-2021 would also be swept. A strong bounce would be expected from the area.
It may be wise to take a small position in this project and set your sell order at $0.41, which is the Fibonacci extension value. If the price retests this level and goes past it for an extended period of time, you might make a profit. Fib numbers are always important in an analysis of a currency
The Fantom prediction video plots Fibonacci extensions and predicts a price level of $4 or $5 in the future.
If a bull markets returns to crypto, Fantom could potentially increase by 15-20% in the next few weeks or months.
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