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

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 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.The post Fantom May Retest $1, FTM Down 68% from Q1 2022 Peaks first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Fantom May Retest $1, FTM Down 68% from Q1 2022 Peaks appeared first on Cryptoknowmics-Crypto News and Media Platform.