Fantom Price Prediction 2022-2028: Will FTM crash?

On 10 March 2022, the news came out that Fantom’s (FTM) key developer, Andre Cronje, has announced his departure from the project as of the end of March 2022. This caused the FTM price to drop by over 20% in the last 24 hours. 

Price is currently around $1.35, which has been a very strong support area in the past. This area of support ranges from $1.30 – to $1.40.  If we break the $1.30 with an open and close on a daily, the next support is at $1.15 and then $1.00. For those traders that are still holding FTM, we suggest that you don’t exit your positions, as long as the current support level still holds.

Fantom Previous Developments

According to the official announcement shared by Fantasm Finance DeFi protocol, its mechanism was drained of $2,600,000 on March 9, 2022. Per the post-mortem, the exploiters utilized BNB Chain, Fantom, and Ethereum. The exploit itself was triggered by a previously unknown error in Fantasm’s pool contract.

The contracts’ devs missed the condition to check for the minimum amount of FTM injections required to mint XFTM, a synthetic asset of Fantasm. This flaw allowed the attacker to mint XFTM tokens with only FSM and then exchange XFTM for FTM. The repayment campaign starts on March 11, 2022

FTM tokens were swapped to Ethers; ETH was moved from the protocol via Celer Bridge. The total amount of losses net approximately $2,622,097. On March 10, the attackers started to wash their loot through the Tornado Cash mixer.

The Fantom community has submitted a new governance proposal to lower the self-staked amount required to run a validator node. When writing, the community needs to reach at least 5% of the total ADM supply to run a validator node on the network. If all stakeholders accept this new proposal, that percentage will be lowered to around 20%.

With the constant shifting tides from bearish to bullish runs, we find that our top contenders for cryptocurrency are struggling once again to maintain their ranks, and yet, something happens that overturns the market. One example is the Fantom project which recently announced its integration with 123swap‘s uniquely designed framework: non-custodial, cross-chain, and decentralized.

Seamless integration with other back-end legacy systems

When applied to crypto ecosystems, Blockchain technology offers opportunities and benefits businesses through greater transparency, increased security, and easier traceability. Capitalizing on its power calls for seamless integration with other back-end legacy systems to facilitate better outcomes which is the awaited outcome here.

Here’s how the blockchain process applies to almost every industry, giving rise to broad interest and investment in blockchain technology integration over the past few years.

This event can help FTM gain wide acceptance among crypto stakeholders and cause FTM’s upward price movement. But with Cronje gone by the end of March 2022, what’s the possible effect on the FTM price?

What is Fantom (FTM) token?

Fantom (FTM) is one of the highest gaining tokens in the market. It is the governance token of a directed acyclic graph (DAG) smart contract platform, known for eradicating the issues related to smart contract contracts.

The platform provides higher transaction speed, with great infrastructure backing up the platform. Fantom was created in 2018, but the mainnet OPERA of the platform came out in December 2018. The platform creator was Dr. Ahn Byung Ik, but currently, the CEO is Michael Kong.

The Fantom team provides increased scalability, decentralization, and security and specializes in full-stack blockchain development. Fantom is a fast, high-throughput open-source smart contract platform for digital assets and dApps using a new scratch-built consensus mechanism.

A unique feature of Fantom is the Lachesis mechanism, which is responsible for 2-second transaction finalization and also brings several improvements to the existing proof-of-stake consensus.

The native token OF Fantom blockchain (FTM) aims to “grant compatibility between all transaction bodies around the world.”

Fantom Overview

Fantom Overview

Coin	Symbol	Price	Marketcap	Change	Last 24h	Supply	Volume (24h)
	FTM	$ 1.23	$ 3.12 B	8.12%		2.54 B	$ 902.41 M

Fantom price historical performance

Looking at the price rise of FTM in recent weeks, the token seems to be a good investment. FTM price was bearish during the initial phase, where the token started at $0.02 and dropped as low as $0.003 in the subsequent weeks. While investors lost their money, prices turned bullish a few weeks later.

In May 2019, prices once again entered the $0.02 levels. After continuing in this zone for a while, the prices again dropped towards $0.003 and further. The bearish prices of the token continued to maintain until the onset of the 2020 bull run. The bull run extended the price action even more.

The prices once again knocked $0.02, and from thereon, the price action remains bullish. In 2021, the prices turned even more bullish as the Fantom price began its journey towards $1.Till the current price range of $1.98 and $2.2, in February 2022.

The bulls took the prices even higher in 2021. The FTM token made its all-time high at $0.916 in May. The current market cap of the token at that time was $476 million. In July, the prices reached as low as $0.12. A bullish outburst followed this bearish momentum as FTM broke resistance levels, finally reaching another all-time high of $1.66.

In September, the token dropped again to $0.98, making another all-time high at $2.33. However, the prices again turned bearish, dropping to $2.02 in October, finally making the latest all-time high at $3.48.

The FTM market cap currently rests at $5.019 million and continues to increase. The trading volume is 519,925,308.70 USD, while the prices are down by 1.36%. The current price of the token is around $2.

Source: Coin Market Cap

Fantom Price Analysis

On the other hand, the technical analysis of the daily chart shows that the current price broke down from the lower end of the Bollinger Bands, causing a drop in the token prices. Moreover, the uptrend was broken due to this breakout.

The current price action continues to progress below the 50-day Moving Average. However, the price action is still above the 100-day Moving Averages. This seems to be a slightly bearish trend in the price action on the whole.

Furthermore, the prices continue in the lower end of the bands, indicating that the token is correcting the gains in the past few days.

Fantom price prediction trend analysis can be done by using trend lines and taking specific horizontal price levels or zones into account that reverse roles between support and resistance. These price levels are the major zones where the market seems to respond by substantial advance or decline. Fibonacci levels measure or predict the retracements before the continuation of a trend. Some traders rely on price action and look at specific candle formations. Here’s one 24 analysis by Cryptopolitan.

Long Idea for FTM on the lower time frame indicates golden Fibonacci retracement and break of descending channel.

A higher timeframe indicates FTM has reached previous ATH support and golden Fibonacci, leading FTM to break a new high.

Target short-term = $2.7

Target long-term = $4.5 (1.618 fib extension)

Fantom Price Predictions 2022-2028

This section will discover the Fantom price forecast by significant websites and analysts. The cryptocurrency market is known for its volatility, and Fantom Foundation native token FTM is also subject to the same price changes.

Wallet Investor

FTM prices will turn bullish in the short term, breaking several resistance levels. As per their data, the prices will reach as high as $4.041 in a year from now. On the other hand, the 5-year analysis for FTM/USDT predicts the future price of $12.2. By December 2022, the maximum price is $2.451, followed by a minimum of $2.131 with an average price of $1.823.

The smart contracts platform’s widespread adoption hints at a bullish trajectory shortly for cryptocurrency, which shows excellent potential today’s Fantom price. The website’s Fantom price prediction for 2022 December shows an average price of $4.175, a minimum price of $3.753, followed by a maximum of $4.583.

For December 2023, the FTM coin price prognosis reveals an average price of $6.216, a minimum price of $5.408, followed by a maximum price of $7.005.

FTM will have an average price of $10.302, a minimum price of $8.367, followed by a maximum price level of $12.305.

DigitalCoinPrice

FTM’s price prediction 2022 depicts a bullish outburst like another coin in the DeFi industry. The price of FTM will be affected by the long-term increase, and as per the price prediction Fantom from DigitalCoinPrice, the coin will break the $3 resistance level, entering $3 for 2021.

For 2022, the expected value is 3.6 USD, followed by a high level of $4.27 for 2023. As multiple decentralized applications find their place on the FTM chain, investing in FTM holds is one of the best investment decisions you can make given the optimistic Fantom price prediction.

The token will end in 2024 at $5.4, followed by 6.44 USD for 2025. The price of Fantom will continue to follow a bullish trajectory, ending the year 2028 at 9.44 USD.

TradingBeasts

Fantom will continue to grow in the short term and the long term. In the long term, the maximum value of the FTM token by 2023 December will be 3.30281 USD, followed by a minimum of 2.24591 USD. On the other hand, the maximum price for December 2024 is 3.94817 USD, followed by a minimum of $2.68476. The average price is put at 3.15854 USD.

Fantom Price Predictions by Industry Influencers

As psychologically challenging as it can be, history has shown that the best times to buy are into extreme fear. But aping into the Fantom ecosystem with a single buy order is probably not the best way to do it, especially not with 100x leverage. Miles shows you exactly what he is doing and gives you the ultimate “buy-the-dip” strategy. Fortunes favor the brave, but only the wise will survive!