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- Andre Cronje laid out a roadmap for Fantom in 2023.
- Says it will focus on DApp ecosystem expansion.
- Investors suspect Andre’s return to Fantom Foundation.
In his recent tweet, the architect of Fantom (FTM), Andre Cronje, revealed the roadmap for Fantom’s functioning in the upcoming year. Cronje also disclosed that he accepted a position as a board member for both Fantom Foundation Ltd and Fantom Operations Ltd. one key point on Andre’s 2023 roadmap is gas monetization, which will allow revenue share for DApps as a development incentive. The core highlight was DApp ecosystem expansion and amends in the use of FTM for the same.
Excited price reaction
The native token of Fantom, FTM, formed a wedge pattern, and the prices are at the deep end of the channel. The prices act in the middle of the channel, which is expected to rise, relating to the possible reactions to the disclosure. The EMA ribbon floats above the current price. A strong bullish swing may be established if FTM prices can capture the spot above the EMA mark. Respecting the potential rally, prices can reach to $0.5 level. The volume is declining, but the pressure seems to be neutralized and soon to convert positive.
The CMF indicator is positioned close to the zero mark and suggests a non-negative situation. The MACD indicator shows nearing convergence and concluding seller participation. The RSI suggests a neutral phase to prevail as the indicator hovers parallel to the half line.
4 hour POV
The smaller time frame study shows that FTM prices have been consolidating for the past few days. The CMF indicator hovers in the positive region above the baseline. The MACD suggests buyers enter the market steadily, uplifting interest. The RSI oscillates near the average mark, marking neutral forces for the market.
Conclusion
The FTM market did not match the expected response for the return of Andre Cronje as a director and the roadmap launch. The prices did not react as per the hype. The support zone of $0.16 can be trusted for entering the market, as prices are anticipated to rally.
Technical levels
Support levels: $0.16 and $0.10
Resistance levels: $0.40 and $0.5
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
