Fantom (FTM) has weakened more than 40% since August 13, falling from a high of $0.41 to a low of $0.18.

The current Fantom (FTM) price stands at $0.20, which is more than 90% off from its 2022 highs registered in January. But where is the price of Fantom (FTM) going next, and what can we expect from the fourth quarter of 2022?

Today, Crypto Lists will discuss Fantom (FTM) price estimates from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk and how much margin you got if trading with leverage.

Negative news from China also represents an issue

Fantom is an open-source smart contract platform for digital assets and dApps, and the main characteristic of this platform are speed, security, and scalability. Fantom solves the problems with the limitations of previous-generation blockchain platforms, transactions on Fantom are almost instant, and fees are extremely low.

The coin has a modular architecture that allows for full customization of blockchains for digital assets, and according to the official website, it can process thousands of transactions per second and scale to thousands of nodes. The Fantom ecosystem is growing, with thousands of active daily users, and it is important to mention that more than two hundred dApps are already deployed on Fantom.

Fantom is fully compatible with Ethereum, so you can run your Ethereum dApps on Fantom. Fantom tokens have the symbol FTM, and to interact with this open-source smart contract platform, users should use FTM tokens.

Fantom (FTM) has weakened more than 40% since August 13, and traders should consider that the risk of further decline is still not over. The U.S. central bank signaled more large increases to come in new projections showing its policy rate rising to 4.40% by the end of this year before topping out at 4.60% in 2023.

No evidence that core inflation peaked

Investors still hope for a less aggressive Federal Reserve, but Minneapolis Federal Reserve Bank President Neel Kashkari said last week that he did not see evidence that core inflation has peaked. His words suggest that the Fed needs to be more aggressive in combat to fight inflation, and the U.S. central bank will probably hike interest rates by 75 basis points at its meeting at the beginning of November. Because of this, the upside potential for Fantom and the cryptocurrency market remain limited in Q4, while concerns around the weakness out of China also represent an issue. Ales Koutny, emerging markets portfolio manager at Janus Henderson Investors, said:

“Hong Kong stocks slid to 13-year lows this Monday, and the onshore yuan fell to its weakest in nearly 15 years as global investors dumped Chinese assets after Xi Jinping’s new leadership team raised fears growth will be sacrificed for ideology-driven policies. The message here is clear: COVID Zero lockdowns, shared prosperity agenda, and sectorial crackdowns are not going anywhere.”

Meanwhile, a significant number of big Wall Street players, including Mastercard and Google, are building products centered around cryptocurrencies despite the harsh bear market cycle. The investor and author of the popular book on financial self-education “Rich Dad, Poor Dad,” Robert Kiyosaki, believes that the cryptocurrency market currently offers many opportunities for smart investing.

Technical analysis for Fantom (FTM)

Fantom (FTM) has weakened from $0.41 to $0.18 since August 13, 2022, and the current price stands at $0.20. Traders should consider that the risk of further decline is still not over, and according to analysts, the U.S. Federal Reserve will continue to have an aggressive stance to fight inflation by raising interest rates.

On the chart below, we can see that FTM has been moving in the range from $0.20-$0.40 last several months, and as long the price of  FTM is below $0.40, we can’t talk about a trend reversal, and the price of FTM remains in the SELL-ZONE.

Technical analysis for Fantom (FTM)

Important support & resistance levels for Fantom (FTM)

Important support & resistance levels for Fantom (FTM)

On this chart (the period from June 2022), I marked important support and resistance levels that can help traders to understand where the price could move. Fantom (FTM) remains under pressure, but if the price advances above the important resistance that stands at $0.40, the next target could be $0.50. If the price drops below $0.15, which represents very strong support, the next target could be located around $0.10.

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What speaks for the rise in the Fantom (FTM) price

The fourth quarter of 2022 will likely be a tough period for FTM, and the outlook for risk appetite in the near term is not looking good. The crypto market sentiment is still unable to show positive signs, which is connected with a 95% probability of a 75 basis-point rate hike when Fed policymakers meet at the beginning of November. Concerns around the weakness out of China also represent an issue for the crypto market sentiment, and it is very hard to be “bullish” on the cryptocurrency market for the remaining period of the 2022 year.

The amount of FTM traded over the last several weeks saw a decrease, but if the price advances above the resistance that stands at $0.40, the next target could be located at around $0.50. Traders should also consider that the price of FTM is correlated with Bitcoin, and if the price of Bitcoin jumps above $22000, we can see FTM at a higher price level than the current price.

What indicates further downfall for Dogecoin (DOGE)

The upside potential for FTM remains limited for the remaining period of the 2022 year, especially after comments from FED that rate cuts are not foreseen until 2024. Investors are worried that an aggressive interest rate hike policy could trigger an even bigger sell-off, and in light of this, FTM might have a hard time holding above the current price levels.

The price of Fantom (FTM) currently stands at $0.20, but if the price drops below $0.15, which represents the important support level, the next target could be located around $0.10.

What analysts and experts say

The fourth quarter of 2022 will likely be a tough period for Fantom (FTM), and the outlook for risk appetite in the near term is not looking good. The crypto market sentiment is still unable to show positive signs, which is connected with a 95% probability of a 75 basis-point rate hike when Fed policymakers meet at the beginning of November. Concerns around the weakness out of China also represent an issue for the crypto market sentiment, and it is very hard to be “bullish” on the cryptocurrency market for the remaining period of the 2022 year. Head of Galaxy Digital fund and former Goldman Sachs fund manager Mike Novogratz said that cryptocurrencies would not make any significant jump until the Fed shifts its policy from hawkish and goes back to monetary easing. On the other side, the investor and author of the popular book on financial self-education “Rich Dad, Poor Dad,” Robert Kiyosaki, believes that the cryptocurrency market currently offers many opportunities for smart investing.


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