Fantom (FTM) is a scalability and speed-oriented smart contract platform. It employs the Lachesis consensus process, which allows it to be even faster and less expensive.
Fantom’s framework allows for the creation of standalone dApps that can yet communicate with one another. Processing speeds are extremely fast because everything runs on its own blockchain and nothing is halted. On the basis of smart contracts, Fantom seeks to employ a new scratch-built consensus mechanism to facilitate DeFi and associated services. Lachesis, the mechanism, promises substantially higher capacity and transaction finalization in two seconds, as well as improved security over existing proof-of-stake (PoS) algorithm-based platforms. FTM, the company’s own PoS token, is the backbone of transactions, allowing fee collection and staking, as well as the user benefits that the latter symbolizes. Let us review the FTM price
FTM Price Prediction
Bullish Scenario: Since the late January sell-off, the FTM price has been decreasing in a downtrend channel pattern. A bullish breakthrough from the downtrend channel would signal a substantial uptrend. FTM could retrace back to $0.59 support levels. If FTM manages to break over the resistance level at $0.93 after retracements, it will be bullish. With sufficient buying activity, a break above the $1.14 price barrier will lead to a move towards $1.37 and $1.65.
Bearish Scenario: We don’t have a strong bullish bias for the long-term because FTM has been in a decline for a few months. Significant important support levels, including $0.93 and the psychological level of $1, have lately been broken down. If the $0.59 support level fails to hold, the price will sooner or later fall further to $0.42, $0.25, and even below.
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