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Fantom (FTM) is not a particularly young coin, being launched in 2018. However, for most of its existence, its price did not stray far from its value at the moment of launch, which was around $0.024. However, that sharply changed in early 2021.
The coin started to grow about a year ago, in the second half of January 2021. It then skyrocketed in February, reaching an ATH at $0.65. However, the resistance at $0.5 was not fully broken, and before long, the coin found itself below it, where it remained until the final days of April.
By mid-May 2021, the coin hit a new ATH at $0.9, only to drop back to $0.2, where it remained throughout the summer, with slight oscillations. Fantom then started surging again in late August and early September, first hitting an ATH at $1.66 on September 9th, and then skyrocketing further to $3.13 on October 26th.
After a brief correction, the coin outperformed this latest peak only by a little, but it still hit a new milestone by climbing to $3.16 on November 8th. The market-wide crash that followed took it down to $1.26 by mid-December, but the coin started recovering in the final days of the month, ending the year with a price of $2.25.
FTM continues to surge in 2022
Fantom price continued surging up as soon as 2022 started. In fact, it never really stopped, despite the holiday season and the turn of the year.
By early January 2nd, the coin was back at $2.6, and this level proved to be a strong resistance that actually rejected its price, forcing it down to $2.50 later on the same day. The coin attempted another recovery, which once again resulted in a rejection after reaching $2.6. This time, FTM dropped to $2.4, and from this level, it bounced back up in a massive rally.
The rally allowed it to rush through the resistance at $2.6 like it wasn’t even there, although it did see a slight rejection after reaching $2.7. Still, this barrier fell fairly quickly too, and the coin kept skyrocketing until it reached $3 in the afternoon of January 4th.
Now, $3 was a powerful resistance that the coin struggled to breach for over 24 hours, but it still had enough strength to finally do it on January 5th. While it did not reach its former ATH, it did come close by climbing up to $3.12. However, after this milestone, its price was rejected to a support at $2.7.
Fantom bounced back up to $2.9, only to go back down to the same support. Late on January 6th, it even managed to recover to $3, which was followed by another rejection to $2.7. The situation turned for the worse around January 8th, however, as the coin sank back to January 1st levels, and the price dropped to $2.26. In fact, it briefly went below this level to $2.23, only to recover back to $2.5 on January 9th, and then drop back down to $2.2 on January 10th/11th.
What followed was a massive, rapid recovery that took the coin from $2.2 on January 11th to $3.12 on January 13th. Once again, not enough for the coin to reach its former ATH, but very close to it. In the last 24 hours, the coin dropped from this level to $2.9, only to recover and reach $3 once more. At the time of writing, it sits at $3.01, and its community is waiting to see which way will the price go next.
To learn more about this token visit our Investing in Fantom guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.