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• Fantom token FTM pushes above resistance

• The blockchain may very well be borrowing beneficial properties from chief Ethereum

• FTM is a purchase at the low costs as the price turns bullish

There isn’t any higher time to put money into Fantom FTM/USD tokens than now. That emanates from the incontrovertible fact that FTM has left a path of $0.28, which is its backside price. Of course, there’s a lengthy method to go as FTM trades a shell of itself from its all-time excessive.

Fundamentally, Fantom is benefiting from the boosts in the crypto sector. Owing to its depressed costs, buyers may very well be taking benefit. The cryptocurrency trades at a low of solely $0.33. That is considerably beneath the all-time excessive of above $3.5 final 12 months. Investors may very well be scooping the dip for a likelihood to journey increased.

Besides, Fantom buyers see alternatives in layer-1 protocols for sensible contracts. History has proven that each time the price of ETH rises, various layers such as Fantom achieve. Investors view the various layer-1 protocols as the greatest Ethereum alternate options. They provide sooner speeds and carry decrease transaction prices. Thus, the beneficial properties in Ethereum may very well be spilling over to protocols such as Fantom.

FTM blasts previous a resistance level to determine a new assist

Source – TradingView

Technically, FTM could be very bullish after overcoming the $0.28 resistance. MACD indicators are bullish too. The cryptocurrency now trades at $0.33. The price is but to succeed in one other main resistance which is at $0.43.

Investors can purchase at the present price level or make the most of a minor retracement. However, we consider FTM is attractively priced, and buyers can scoop the token now.

Summary

Investors’ consideration is popping to FTM on account of its sensible contract performance. The cryptocurrency is attractively priced and is a purchase after a key breakout.