Fantom (FTM) and Reef Finance Technical Analysis: Have Sellers Been Tamed?

Fantom (FTM)

Fantom, the DAG smart contracting platform, is DeFi-centric using FTM as the main currency.

Past Performance of FTM

After surging 22X, Fantom coin prices are pulling back, dropping 60 percent from peaks. Even with the drawdown, FTM crypto buyers maintain control.

Day-Ahead and What to Expect

FTM technical analysis points to strength, reading from the formation in the daily chart.

All the same, FTM coin losses from late October 2021 cannot be discounted.

Currently, the primary support is at $1.35, while the minor resistance is at $1.80.

A close in either direction would define the short-term trend.

Fantom Technical Analysis

The FTM token is bullish when writing, reading from the performance of the daily chart.

After sharp losses of the last two months, the stabilizing of prices above $1.35 is a net positive.

In the meantime, Fantom coin buyers will take over, pushing prices to $2—and over the middle BB should there be a comprehensive close above $1.8.

Conversely, if Fantom bears flow back, losses below $1.35 might drive FTMUSDT back to September 2021 lows at around $1.

Reef Finance (REEF)

The platform provides a solution on DeFi using REEF as the main currency. Notably, it is built on Substrate, offering speed, scalability, and reliability.

Past Performance of REEF

There is a bullish engulfing bar from around $0.015, a net positive for Reef Finance token buyers. Even so, REEF coin prices remain bearish.

Day-Ahead and what to Expect

Reef Finance coin prices are sliding, reflecting the trend of November.

After peaking last month, the REEF crypto is now down roughly 60 percent.

In the short-to-medium term, the reaction at $0.015 would determine the subsequent trajectory for the token.

Reef Finance Technical Analysis

REEF crypto prices remain bearish despite the bullish engulfing bar from around $0.015.

The critical reaction point also flashes with the 78.6 percent Fibonacci retracement level of the H2 2021 trade range.

If the weekend's gains are confirmed, REEF coin prices might expand to reverse early December losses.

In that case, a close above $0.025 might signal strength, a precursor for another leg up to $0.040.

On the flip side, more profound losses below $0.015, REEFUSDT could be open to $0.010.