April is not a good month for Fantom (FTM). The cryptocurrency peaked at almost $1.63 before bottoming at below $1.00. FTM recently closed at $1.06. Volatility is widening despite Fantom’s strong prospects. It is in a good position to out-perform its peers with its unique platform. The platform allows developers to create dApps separately while also connecting them. This is central to Fantom’s fast and secure service.
Fantom investors may refer to support and resistance levels on the chart. However, this will only show how the cryptocurrency performed historically. It will not predict FTM’s direction in the days and weeks ahead. As long as stock market weakness persists, particularly with Nasdaq, brace for Fantom’s volatility in either direction.
Investors who are experienced with buying speculative biotechnology stocks or emerging mining firms should use the same strategy. Diversify the cryptocurrency investments by holding several types. That way, if a few cryptos fall but others rise by multiple times, the portfolio performs well. Among them, Ethereum (ETHE) and Bitcoin (BTC) are the most widely held coins. Still, as dApp (decentralized application) producers demonstrate support for fast transactions, the value of Fantom will increase in the year ahead.
