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Cryptoknowmics 2022-03-16 19:07:51

Fantom Expands 14% as FTM Bulls Find Strong Support at $1

Fantom is up 14 percent on the last trading day when writing as FTM prices rebound from $1—a round number. Buyers could drive the coin back to $2.1 as prices bottom up after a 65 percent dump from 2021 peaks. Past Performance of Fantom (FTM) There could be elements of strength when writing, but FTM prices are down over 65 percent from peaks. When writing, FTM is down 14 percent on the last trading week versus the USDT, but gains of March 15 appear to be changing the fortune for Fantom holders. In the previous 24 hours, the coin is up 14 percent, rising from around the 78.6 percent Fibonacci retracement level of the July to October 2021 trade range. Fantom Technical Analysis The FTM price is within a bear breakout pattern following losses below $1.30 in early March 2022. The recovery from $1—a round number—and 2022 lows could signal strength in the short term. Thus far, the rejection of lower lows and FTM prices trending inside the bullish engulfing pattern of March 15 points to strength. Accordingly, aggressive traders may find entries on pullbacks within the March 15 bull bar with immediate targets at $1.3 and $2.1 in the medium term. On the reverse side, sharp losses below $1 confirm sellers from mid-January 2022. In that eventuality, FTM may dump to May 2021 highs of $0.85 in a retest. What to Expect of Fantom? Fantom is a top Defi ecosystem that has flourished to be the segment leader over the months. Following deep retrac...

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Fantom Expands 14% as FTM Bulls Find Strong Support at $1

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