FANTOM move underway?

The price of FTM – the token behind the popular Fantom Network – has soared by as much as 30% today. This happened following the announcement that data-analytics provider Nansen added support for it.

  • Fantom is a smart contracts platform using the Proof of Stake consensus algorithm and is based on Direct Acylic Graph technology – it’s also implemented by other projects such as Hedera Hashgraph and IOTA.
  • In a press release from today, the team announced that Nansen – a well-known data analytics provider, has added support for the blockchain.
  • DeFi Lama reports that the total value locked in Fantom is currently over $5 billion, with a massive jump over the past 24 hours.
  • As a result of both, the price of Fantom’s native FTM token has increased by as much as 30% today, before retracing to where it currently trades

Technical Levels for FTM

We expect the bullishness to continue in the short term. We are long FTM since 0.66 Levels and have added more during recent dips below 1.20

We may consider adding more if we get local correction for a pontential $3 as intemediate target with $5 as mid term target

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