Fantom (FTM) is not a particularly young coin, launched in 2018. However, for most of its existence, its price has not strayed far from its value at launch, which was around $0.024 . However, this changed dramatically at the start of 2021.
The coin started growing about a year ago, in the second half of January 2021. It then spiked in February, reaching an ATH of $0.65. However, the resistance at $0.5 was not completely broken, and soon after the coin found itself below, where it remained until the last days of April.
In mid-May 2021, the coin reached a new ATH at $0.9, only to fall back to $0.2, where it stayed all summer, with slight swings. Fantom then started climbing again in late August and early September, first hitting an ATH of $1.66 on September 9, then skyrocketing to $3.13 on October 26.
After a brief correction, the coin only narrowly surpassed this latest high, but it still broke a new high as it climbed to $3.16 on November 8. The market-wide crash that followed brought it down to $1.26 in mid-December, but the coin began to rally in the final days of the month, ending the year with a price of 2 $.25.
FTM continues to rise in 2022
The price of the Fantom continued to rise from the start of 2022. In fact, it never really stopped, despite the holiday season and the turn of the year.
At the start of January 2, the coin was back at $2.6, and this level turned out to be a strong resistance that actually rejected its price, forcing it to drop to $2.50 later in the same daytime. The coin attempted another recovery, which again resulted in rejection after hitting $2.6. This time, FTM fell to $2.4, and from that level it rebounded in a massive rally.
The rally allowed it to rush through resistance at $2.6 as if it wasn’t even there, although it did experience some mild rejection after hitting $2.7. Yet, this barrier also fell quite quickly and the coin continued to soar until it hit $3 in the afternoon of January 4th.
Now $3 was a powerful resistance that the coin struggled to break for more than 24 hours, but it still had enough strength to finally do so on January 5. Although it did not reach its former ATH, it came closer as it climbed to $3.12. However, after this milestone, its price was rejected at a support at $2.7.
Fantom bounced back to $2.9, only to drop back down to the same support. Late on January 6, it even managed to recover at $3, followed by another rejection at $2.7. However, the situation deteriorated around January 8, as the coin fell back to January 1 levels and the price fell to $2.26. In fact, it briefly dipped below that level at $2.23, returning to $2.5 on January 9, then falling back to $2.2 on January 10 and 11.
What followed was a massive and rapid rally that took the coin from $2.2 on January 11 to $3.12 on January 13. Again, not enough for the piece to reach its old HUD, but very close to it. In the last 24 hours, the coin moved from this level to $2.9, only to recover and reach $3 again. As of this writing, it sits at $3.01 and its community is waiting to see which direction the price will go next.
To learn more about this token, see our Investing in Fantom guide.
