Fantom is one of the few DeFi chains that has managed to amass a variety of protocols on its network. Presently Fantom has more protocols running on it than Solana, Terra and Tron combined. However, the issue is deeper than the number of protocols.
Fantom on Binance Fantom’s listing on Binance U.S. on 17 December was a huge advancement for the network, which hasn’t been in the best place recently. Deposits on the exchange are now open and this is another addition to the ever-expanding adoption of Fantom.
In fact, just recently OKEx had added Fantom to its staking service. But even then the lack of participation continues to be a problem for the DeFi chain.
As it is, in less than two weeks the network has lost over 60% of all its active addresses. Consequently, the number of transactions on the chain dropped by 57% to 1.9k. The same at one point used to be at 4.5k.
The daily chart shows the Fantom price is consolidating above the 200-Day Moving Average (DMA) at $1.207. Notably, the Moving Average Convergence Divergence (MACD) indicator signals growing bullish momentum. Furthermore, FTM has crossed the mid-point of the Bollinger Bands at $1.500 (20-Day Moving Average) and should therefore extend towards the top of the BB channel at $1.800.
However, the 100-DMA at $1.985 and the 50-Day at $2.043 provide robust confluent resistance above the market. For that reason, FTM’s gains may be limited unless the broader market embarks on a sustained bull run into year-end. On the other hand, if BTC fails to hurdle 50k convincingly, altcoin gains may be fleeting. In that event, the 200-DMA comes back into focus.
Our chart says 1,98 and if breached then much higher.
yup i got 1.99 first target too. from a fractal. obvious one.
madinakamilovna
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Imo max 1,78-180 then will dump again) the death cross about to happen FTM will touch one more time the bottom which is around 1$
CoinScalper
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@madinakamilovna, lol no reason for such dump. FTM can easily make $5
matin10125
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@CoinScalper, what is the next resistance? my liquidation price is 1.85, should I sell at this moment 2.157?
madinakamilovna
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@CoinScalper previous bottom was 0.15 Ftm did 23x! Now bottom is 1$ Ftm will make more than 20$ but in Q1 2022! Now it will touch one more time bottom))
FX_Professor
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@madinakamilovna, come back in 1 moth let's have the discussion then. Feel free to share your chart here but pls, no need to be 'certain' about anything. especially in this market right now