![iMarkup_20220323_125228.png](https://cdn.steemitimages.com/DQmboMKZHDkR9TVzyWoYP7L3KDtRpsfFpa1V7VodYe59jTY/iMarkup_20220323_125228.png)

Edited with imarkup

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) Good day everybody. This week presents yet another auspicious opportunity for me to be part of the trading contest and for me to be part of Team Investors being headed by professor @pelon53. I would like to invite everyone to read through my trading engagement for today. ![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)

1.- The name of the token and introduction of the project. Technical background of the project and team in charge of the project. In which Exchange or exchange can be negotiated.

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) ![iMarkup_20220323_212155.png](https://cdn.steemitimages.com/DQmVVZiEVowJzZmjeLiJN8M9unoudRWkUGbhtTCFqPq7Qnv/iMarkup_20220323_212155.png)

[Source](https://coinmarketcap.com/currencies/fantom/)

Since I traded on the FTM/USDT crypto pair today I would like to lead all of us through the important fundamental analysis that backs the project. Equally, I would like to present some very important statistics that relate to the project and later undertake a painstaking study of the technical aspect of the coin also. **Factors** | **Statistics** ------------ | ------------ Fantom Price | $1.30 Price Change (24h) | $0.0312 24h Low / 24h High | $1.24 /$1.33 Trading Volume (24h) | $687,330,499.56 Volume / Market Cap | 0.2083 Market Dominance | 0.17% Market Rank | #42 Market Cap | $3,299,431,735.53 Fully Diluted Market Cap | $4,116,176,793.52 ## Name And Introduction:- The Fantom platform is a decentralized finance setup which uses the directed acyclic graph (DAG) to provide developers some services by relying on the bespoke consensus algorithm that the platform is known for. The platform uses the FTM token which is its in-house token in trying to provide solutions to problems that are related to platforms where smart contracts can be carried out. The most specific of these problems is the speed of transactions on the Fantom platform. It is said by developers that the speed of performing a transaction has been brought to a time frame that is less than 2 seconds. The mainnet of the platform which is the Opera was released in December 2019 even though the Fantom Foundation had earlier been formed in 2018 to look over the offering of Fantom-related products. ## Traded Exchanges:- The coin is traded in a good number of exchanges and comes in different pairs. In these exchanges it can be traded or purchased in the spot market and even on the futures and margin platforms in some cases. Some of the exchanges where it is traded include:- * Binance * KuCoin * FTX * Huobi Global * Bybit * Gate.io * Gemini * Uniswap (V2) * BitFinex * Poloniex ## Project Team/Technical Background:- Doctor Ahn Byung IK who is actually a computer scientist from South Korea was responsible for the founding of the Fantom Foundation. At present, Michael Kong remains the CEO of the platform. Primarily, the project has a team of members that have extensive experience when it comes to development of full stack blockchain and had wanted to create a platform where smart contracts can be carried out with advantages like decentralization, scalability and security. From the official website their team is said to be made up of scientists, special engineers, entrepreneurs, designers and researchers. They have employees that are spread all over the world conforming to the idea of a distributed platform. ## Objective Of The Token:- The FTM token is native to the platform. It functions as a POS token that is used to keep the ecosystem running. It is used for making payments, for governance and staking purposes, and for processing of network fees. The token is the basis upon which every transaction on the platform is carried out; it can be used equally to give out rewards to users. ## Operation:- The network uses the Fantom's Asynchronous Byzantine Fault Tolerance (aBFT) which is a type of proof of stake (POS) consensus mechanism that makes it possible for the network to obtain network efficiency and provide the maximum security needed to function at maximum speed. The consensus mechanism does not rely on block leaders and participants. Hence, nodes can join or exit at any time. ![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)

2.- Why are you bullish on this token today?

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) Why I am bullish on this coin for today is because I have observed it since yesterday. I discovered that an ascending channel has been created or is actually forming right now. The price has had great difficulty moving downwards even in this current period where cryptos seem to be moving down a great deal. ![iMarkup_20220323_212042.png](https://cdn.steemitimages.com/DQmZrKirvC1LzQz5tnmKBDsk3uF8r7mbWzFKPEyG6xG9oj8/iMarkup_20220323_212042.png)

[Source](https://coinmarketcap.com/currencies/fantom/)

From the image above an ascending triangle pattern has been created. This is generally believed to signify continuation. Consequently, I expect that the price will continue moving in the upwards direction. Also, it shows that there is rising volume in the market and this accentuates the ability of the market to push further in the upwards direction. ![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)

3.- How to analyze the token for an operation? You must compulsorily use methods and analysis learned in the Crypto Academy.

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) ![iMarkup_20220323_214403.png](https://cdn.steemitimages.com/DQmY7McV69AZhJcuHm5rEairpQfFFeMaWYWCNHLsUBxBJaF/iMarkup_20220323_214403.png)

[Source]()

I used the one hour time frame for the analysis and study of the crypto chart on a longer timeframe. I made a simple combination of two trend lines to create an ascending channel and added the 25 periods and hundred periods EMAs to the crypto chart. The trend line above in the ascending channel represents the resistance area why the trend line below it represents the support areas. The ascending channel is a clear indication that an uptrend is in place and clearly defined. The 25 periods EMA is a short-term EMA that hugs the price closer and reacts to more intricate changes of the price action. The hundred period EMA is a longer-term EMA which does not hug prices too closely but can act to confirm the direction of a trend. ![iMarkup_20220323_212042.png](https://cdn.steemitimages.com/DQmZrKirvC1LzQz5tnmKBDsk3uF8r7mbWzFKPEyG6xG9oj8/iMarkup_20220323_212042.png)

[Source]()

Equally you can discover that there is an ascending triangle pattern which I have described its meaning in Question Two. This pattern also shows that there is a rising momentum in the market together with increasing volumes moving in the upwards direction. The crossover of the EMA in which case the shorter time EMA crosses above the longer time EMA signifies that the trend has changed to that particular direction. Clearly the short-term EMA was above the long-term EMA and the price was returning to the short-term EMA which was now acting as a dynamic support area. This signifies the presence of an uptrend in the market. I would use the one minute time frame to observe when the price would return to the lower trend line which was now supporting the price and then I will take an entry if the price bounces off from that lower trend line and begins to move upwards. ![iMarkup_20220323_213509.png](https://cdn.steemitimages.com/DQmNPovvh7LKyfJv989K4ojUqvkgFS2RuZaQMP9jmaewbWV/iMarkup_20220323_213509.png)

[Source]()

From the image above you will discover that the price of the asset had come down to the level of the trendline which I had drawn under at the support level. Once it got to that support level it started building bullish candles and RSI actually showed that an uptrend had begun or that the price had bounced off from the trend line and was going upwards by indicating that the RSI line was crossing above the midmark which shows increased strength and volume in the market. At around this level where the price touches the trendline I actually took my buy entry. ![iMarkup_20220323_213707.png](https://cdn.steemitimages.com/DQmeg9GHzx2iCM99wQu595QrCPdyd3f5gq2Z9VnoaanPgHZ/iMarkup_20220323_213707.png)

[Source]()

I set my stop loss level below the swing low and set three points to take profit. This is illustrated in the image above. The image below reveals my running profit:- ![iMarkup_20220323_214025.png](https://cdn.steemitimages.com/DQmXbSSSoAXS2Fg9gXXUdHzAF5dT2AnRTDp5Cru2HkzzxXB/iMarkup_20220323_214025.png)

[Source]()

Unfortunately, the network on my phone became shaky and I had to close the position at my first level of take profit. However, the price later hit all the other higher levels of take profit. The trade history is shown below:- ![iMarkup_20220323_220610.png](https://cdn.steemitimages.com/DQmdiL62ady3k2gsjqptoHpMV2tA1882kcFLTqidFVrBBd2/iMarkup_20220323_220610.png)

[Source]()

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)

4.- What is your plan? Do you want to keep it for a long time? Or when to sell it?

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) Actually, I do have some reasons to want to hold the coin for a little bit longer, probably maybe for more than a day. This is due to the fact that I have observed this particular coin from yesterday and have come to discover that there has been a great difficulty pushing the coin lower in price from where it is trading currently. This is because in this period of crypto dump that would have most likely been the case. However, the ascending channel being created seems to be strong and seems to be pushing upwards. So, there seem to be indications that the price may push higher but I am being very cautious, anyway. ![iMarkup_20220323_211839.png](https://cdn.steemitimages.com/DQmRDzTJAhR4agAzRDmhX5reoyobQB6y1WXR4MrcMgfggpJ/iMarkup_20220323_211839.png)

[Source](https://coinmarketcap.com/currencies/fantom/)

From the image above you will discover that I have designated some points as first level, second level and third level. These are the levels where I intend to take profits by shifting my stop loss to those points if the market continues upwards. Ordinarily, I would hold the market up to this point but exit if it does not continue to move in my favour(from the image you discover that this actually moved in my favour and got up to my third exit point). ![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)

5.- Do you recommend that all people buy it? The reasons for recommending or not recommending it.

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) There are quite some important reasons why I would actually recommend people to buy the FTM token. It has very strong fundamental backing and a very experienced and erudite team of operators as well as investors with a growing rate of adoption. Some of the other reasons why I believe it is a good investment and recommend that people buy it especially in this crypto dump include:- * The network has an ecosystem which is ever expanding and grown to include such interesting project as NFTs, DeFi, Decentralized Exchanges, etc * It has an experienced team which has gone into partnership with Binance network to create a centralized exchange where tokens related to the Fantom network can be hosted * The network has been said to be one of the cheapest networks to make use of as well as one of the fastest * There are lot of cryptocurrencies related to phantom that are supposed to be available on the Fantom exchange that is to be created ![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)

6.- Any other important information of the token/project.

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) One of the most interesting events about the network I would like to point out is the fact that they have gone into partnership with Binance to create a centralised exchange for the Fantom network itself. It was uncovered that Binance Cloud would be used to power the native exchange being created by the Fantom project in a 2021 conference that was held in Dubai. Some of the advantages and the reasons for this development is to ensure that Fantom based assets would have better limit orders, high frequency trading, better liquidity and the availability and usage of bots to create better trading experience. The FTM token is expectedly going to be a major trading pair for all the different assets that are going to be listed on the platform. This has the ability of making the value and demand of the crypto to skyrocket. ![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)

CONCLUSION

![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png) The crypto trading initiative of the Steemit Crypto Academy is actually a welcome development. For today's trading exercise I decided to explore the FTM token. The FTM Project is a very interesting blockchain that comes with a lot of advantages and fundamental use cases that makes it a reliable trading asset. I made use of trendlines to draw out an ascending channel and equally relied on straight lines to mark out an ascending triangle which was available on the crypto asset. I took an entry and marked out important resistance areas as places of possible take profit and the price actually performed credibly well up-to-the delineated take profit points. ![iMarkup_20220319_082437.png](https://cdn.steemitimages.com/DQmaLYkYMcdzP4Sg1kG21ixdtXDPakEspbCnP6Ds8dY6qBU/iMarkup_20220319_082437.png)