Twitter Facebook LinkedIn Flipboard 0 Fantom cryptocurrency has once again demonstrated volatility. FTM is now down another 49% from the 6th of June 2022. Having etched in another red weekly candle, we can only ask ourselves, where is the bottom? Currently FTM is trading at a stunted level of roughly $0.206, zooming out on the hourly chart we are also trading in a descending channel. Typically this is a bearish chart pattern but the extremely oversold position tells us we may see a bounce from these levels. Fantom hit a low of $0.196 today which is very concerning for holders. For new investors this is perhaps a golden opportunity of a lifetime. Buy Fantom Cryptoassets are a highly volatile unregulated investment product. Fantom (FTM) Price Prediction 2022 The recent price action of Fantom is extremely bearish, although traders are potentially expecting a bounce to the upside. The price targets upon breaking out of the descending channel are as follows below. It may also be worth mentioning that weekly RSI is back down to lows that we saw in May 2020. In the short-term this could suggest more selling pressure, however, investors with a long-term strategy could potentially see these levels as fantastic accumulation ranges. Fantom Fibonacci Price Targets 0.236 Fib – $0.221. 0.382 Fib – $0.24. 0.5 Fib – $0.255. 0.618 Fib – $0.269. 0.786 Fib – $0.291. Currently Fantom is trading with a total market capital of $512,236,532, this is 94% lower than the previous all-time high market capital of $8.4b. Generally, it is a milestone for any Cryptocurrency project to exceed a $5b market capital. This tells us there was previously a large investor appetite and the project has a strong utility and objective in the blockchain ecosystem. FTM is now ranked 66 on Coinmarketcap, today’s crypto crash has lowered its place by a few positions. According to Coinmarketcap we also have a circulating supply of 2.55b which is 80% of the maximum supply. Volume has seen a surge of 48.6% over the last 24 hours, as the battle between bears and bulls continues. The bullish scenario for Fantom in June is that we see a reversal to around $0.27 at previous resistances. Although with the current activity of Bitcoin and Ethereum this seems rather unlikely at the moment. Read more: Fantom Price Prediction If we lose the support level of $0.1935 the next swing low would potentially find support at around $0.15. This was priced in last year on the 21st July 2021, a support level prior to the parabolic rally which reached an all time high of $3.47. Investing at these price levels in 2021 offered the chances to receive 1,844% returns on investment. Contrarians and crypto maximalists may see this undervaluation phase as a key entry point for the next bull market. Despite the heavy capitulation, Fantom still has a strong rank 10 in terms of the total value locked across all chains. Image via – https://defillama.com/chains Defilama Total Value Locked charts What makes Fantom Unique? Fantom is a smart contract platform which accommodates decentralized finance (DeFi) platforms to developers across it’s unique consensus algorithm. FTM has a purpose to solve problems in relation to smart-contract platforms. To be exact, to alleviate transaction speeds which their developers say are now under just two seconds. Hence why this is a very popular altcoin for investors. A unique selling point of FTM is the performance and excellent transaction processing. Fantom can handle thousands of transactions per second. Another extremely appealing aspect of the Fantom mainnet is the cost per transaction, just fragments of a cent. The entire FTM ecosystem covers network fees, staking, governance and payment applications which makes it very versatile. Over time we should see the total-value locked in the ecosystem increase as more users operate the network. Buy Fantom Cryptoassets are a highly volatile unregulated investment product. Fantom Price Prediction 2024-2025 Fantom is a very promising proof-of-stake network which should organically grow over the years. Having already exceeded an $8b market capital during the bull market, the expectations are set very high. Once we see the next Bitcoin halving event and come out of a crypto winter we should start seeing signs of interest spike once again. Investing in a bear market can create life changing wealth generation as this is where most whales and smart-money accumulates. We can use our Fibonacci extension tool to help us speculate where the price of Fantom could traverse over the next few years. Personally I really like this tool as it highlights realistic areas of resistance and is more accurate across a macro time scale. The price levels we could potentially reach by 2025 during another bull run can be seen below. 1.272 Fib – $4.48. 1.414 Fib – $4.98. 1.618 Fib – $5.69 We do not know the future and exactly when we may experience another bull market with euphoric highs and parabolic rallys. It would be safer to say for now, that the long-term trend is still now whilst Bitcoin is yet to reach the 200-week moving average. I believe Fantom is an excellent project and has the cash reserves to upgrade their protocols and survive the bear market. Fantom could make a great addition when looking for diversity in any investment portfolio. Related Where to Buy Fantom – A Beginner’s Guide Best Altcoin Exchange 2022 – Cheapest Altcoin Trading Platforms 5 Best Altcoins Crypto Influencers Are Plugging 2022 DeFi Coin (DEFC) - Undervalued Project Our Rating Listed on Bitmart, Pancakeswap Native Token of New DEX - defiswap.io Up to 75% APY Staking Whitepaper and DeFi Tutorials - deficoins.io Learn More Read more: Fantom Price Prediction Twitter Tweet Facebook Share Email This article was written for Business 2 Community by Jacob Bury.Learn how to publish your content on B2C Author: Jacob Bury Jacob Bury got invested in Cryptocurrency during his travels in the Philippines when Covid first broke out in March 2020. He hasn't looked back since. In addition to being a technical analyst and blockchain investor, Jacob has his own YouTube channel with 4,000 subscribers. 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