<h2><span style="font-weight: 400">What is Fantom Coin?</span></h2>
<span style="font-weight: 400">Dr. Ahn Byung Ik, a South Korean computer scientist founded Fantom as a means to <a href="https://www.cryptoknowmics.com/news/solana-review-high-speed-layer-1-blockchain/">increase transaction speed and solve performance issues</a> surrounding smart contracts. As of now, the ecosystem is proud to have a supportive community of users and developers, in-built Defi instruments, and a plethora of supported Dapps. The Fantom (FTM) token is the native incentive of the Fantom blockchain with a total token supply of up to 3,175 tokens. </span>
<h2><span style="font-weight: 400">Current Fantom Price Action</span></h2>
<span style="font-weight: 400">The Fantom coin price action is completing a cup with a handle pattern on the 2-day chart, At the moment, the pattern is approaching the upper end of the handle with buyers working against the clock to retest $1.3434. The Moving Average Convergence Divergence (MACD) is indicating a bullish momentum on the 1-day chart, with bars on the green zone. Fantom’s overall price action is bearish as shown by 11 major indicators pointing to the seller's zone. However, 4 out of the 26 major indicators are showing a buy signal.</span>

[caption id="attachment_229996" align="alignnone" width="1153"]<img class="wp-image-229996 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/03/FTMUSDT_2022-03-21_16-53-31.png" alt="Source: TradingView" width="1153" height="762" /> Source: <a href="https://www.tradingview.com/chart/ohnLlvFi/" target="_blank" rel="noopener">TradingView</a>[/caption]

<span style="font-weight: 400">Fantom price action saw an upward momentum over the last weeks following a price consolidation between $1.1 - $1.2. The price of the altcoin formed support at the $1 mark, after achieving further upsides in February. </span>

<span style="font-weight: 400">A strong uptrend took place on Friday, after an initial spike to $1.287. Initially, Fantom found rejection, which resulted in a downtrend to the $1.17 region. However, approaching the opening of this week, the buyers were able to advocate a rally and managed to test a Monday high of $1.306.</span>
<h2>What do Influencers think about the price direction of Fantom?</h2>
According to Youtube Channel Crypto Banter, Fantom (FTM) has faced a strong bounce over the last 7-days; the analyst emphasized that a powerful rally was going to take place in case the rally continues.

By the end of the year, the price of the altcoin is likely to double or triple especially due to the recent protocol update.

Further upgrades of the ecosystem could also bring more users to the platform, and more users translate to more buyers.

https://youtu.be/Dl90kN6x7qk

Altcoin Buzz, another Youtube crypto analyst, thinks the price of Fantom is going to reach $5 by the end of this year. The analyst attributed the coin’s success to the increasing usage of Defi instruments and smart contracts.

https://youtu.be/u59pmhPcpi4
<h2>Should you invest in Fantom in 2022?</h2>
Fantom is a quality project owing to its experienced team of developers. In case, the team is able to execute its outlined roadmap, there are high chances of gaining deeper traction and attracting more investors. Also note the increasing hype surrounding NFTs, blockchain gaming, and the metaverse; all of which the Axie Infinity project hopes to support.

As more people enter these emerging industries, the adoption of the FTM token will keep growing; hence its price. Remember, that the overall direction of the cryptocurrency market follows the direction of Bitcoin. Therefore, if Bitcoin rises in price, the price of Fantom(FTM) and other in-sync altcoin markets are going to grow.

Fantom Price Prediction: Will FTM Coin test the $5 mark by end of 2022

The Fantom coin price action is completing a cup with a handle pattern on the 2-day chart, At the moment, the pattern is approaching the upper end of the handle.

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Fantom Price Prediction: Will FTM Coin test the $5 mark by end of 2022

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