Mar 09, 2022 02:25
Andre Cronje and Anton Nell have left the DeFi space. Among other things, Andre Cronje was involved in the Fantom project, which is why the price of FTM fell drastically recently. But how does the chart for the Fantom price look now? Does the price still have a future, or will the price continue to fall since Andre Cronje left the project? In this Fantom price prediction, we'll cover FTM prices from a technical standpoint.
Fantom Price reaches an Important Area
Fantom price had already found support at the GoldenPocket of the full bull run in December 2021 and rose sharply from there. In the last few weeks, after the price rose to +/- $3.39, the price fell sharply again, and was able to test the GoldenPocket again this week. As long as the GoldenPocket holds, we do not assume that prices will continue to fall, even if Andre Cronje has left the Fantom project. If the GoldenPocket sustains a break, the Fantom price could drop to $0.18. There is the next major support to watch out for.
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Fantom Price Prediction - Will FTM Crash?
As the Fantom price fell again to the GoldenPocket and also rose again to $3.39, the price was able to confirm a sideways phase. This sideways phase consists of the $1.27 and $3.39 support. Since rectangles (flats) are considered a continuation pattern, we anticipate the price will see a bullish breakout in the future. However, it may take some time before this happens, which is why we do not give an estimated time yet. The next move for Fantom would be a surge to $3.39.
On the other hand, if prices continue to crash, it might be "bad news" for FTM holders. The next support level for FTM will be under $1, specifically around $0.2-$0.35. That's why it is very important to keep a close eye on the current price level of FTM. The DeFi collapse might not show directly, and prices might be bearish in the medium-term.
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