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Dalmas Ngetich
Apr 18, 2022
by Dalmas Ngetich

Fantom May Retest $1, FTM Down 68% from Q1 2022 Peaks

Fantom

Table of contents

  1. Past Performance of Fantom
    1. Fantom Technical Analysis
    2. What to Expect from FTM?
Fantom is down 68 percent from 2022 peaks and under pressure, sliding four percent in the last trading week. FTM has resistance at $1.12—flashing with last week's low.

Past Performance of Fantom

The Fantom price is tethered near Q1 2022 lows and under-performing the USDT. Overall, FTM sellers have the upper hand. Bears could force the coin lower if buyers fail to flow back, plugin the recent weakness.

Fantom Technical Analysis

Fantom FTM Daily Chart for April 18

The April 18 bar is bearish but has a long lower wick pointing to strength in the NY session. Depending on how the current bar closes, bulls may unwind earlier losses, driving FTM back to positive territory in the immediate term.

Reading from the performance in the daily chart, losses of April 18 is a confirmation of bears of April 11. Accordingly, provided prices are below today's highs at around $1.12, sellers may unload on pullback targeting the Q1 2022 low of $1. A high volume close above $1.12 may be the foundation for another leg up, supportive of buyers.

What to Expect from FTM?

Fantom is a well-developed DeFi protocol and one of the top performers year-to-date. Nonetheless, FTM is under pressure, sliding 68 percent from 2022 lows. If bulls fail to reclaim $1.12, the coin may drop to $1.

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Fantom May Retest $1, FTM Down 68% from Q1 2022 Peaks
Dalmas Ngetich
Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.

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