Andre Cronje shields Fantom from the evil eye- price surged by more than 30%

Andre revealed how DeFi saved FTM.
The price surged by more than 10% and 30% in 24 hours and the past week,respectively.
The unique addresses have increased more than 600% since last month.

The founder of FTM, Andre Cronje, cognized the role of the DeFi earning activities in assisting the Layer1 blockchain in growing its treasury to over $51 million. Now the treasury of Fantom holds over 450 million FTM tokens worth $96.43 million, $100 million worth of stablecoins, $100 million in other crypto assets, and $50 million in non-crypto assets. All these created a positive aura for the FTM holders, who now have their faith intact.

The trendline is getting weaker in the daily timeframe, expecting an upside breakout. The price of FTM may reach the level of $0.4170 as it reaches the end part of the falling wedge pattern. The volume is also pushed to pump in the future. The FTM price has claimed all EMAs and aims to very soon claim the 200-EMA too, whenever it breaks its resistance and surges.

The CMF indicator becomes almost perpendicular as it rises with the FTM price, indicating a clear uptrend. The FTM price may rise sharply after a slight push to take support and soar high. The MACD indicator undergoes a bullish divergence with a sharp rise visible in the lines. The RSI indicator rises to the higher ranges near the verge of the overbuying zone. It may very soon become overbought as new buyers enter the market.

As the FTM price moves up the ladder, the CMF indicator continues to mark an uptrend as it moves in the higher zone beyond the zero mark. The RSI indicator breaches the 70-mark border and becomes oversold as new participants enter the game about the potential rise in FTM. By recording the ascending buyer bars, the MACD indicator turns bullish and escalates to the zone above the zero-histogram mark. It may diverge further as the uptrend is yet to begin.

Conclusion

The native token of Fanton, FTM, shows greater potential and attracts the spotlight as users are surrounded by all sorts of bad news these days, with exchanges crashing, projects shutting, hacks occurring, and whatnot. Amidst this, one ray of hope will surely catch the holder’s eye and grow.

Technical levels

Support levels: $0.1670 and $0.1040

Resistance levels: $0.3555 and $0.4170

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.