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- Prices are up by more than 20% in the past week.
- Fantom declared that it had passed the governance proposal.
- Co-founder Andre Cronje laid the roadmap for 2023.
Fantom’s architect, now Board member, Andre Cronje laid out the road map for 2023. In his tweet, he detailed out the plans Fantom Foundation has for the ecosystem and what the holders can expect. One of the proposals made included gas monetization. The core highlight was DApp ecosystem expansion and amends in the use of FTM for the same.
Fantom Foundation declared that it had passed the governance proposal to set up gas monetization for the dApps, to which 55.9% of the community voted in agreement. FTM surged when the roadmap was released, rising again to the implementation of the strategies.
Monoscope view
The prices undergo a bullish breakout immediately after the disclosure was made. The current trading price of $0.2484, which rose by more than 10% in the last 24 hours, has successfully captured the 200-EMA. Rest of the EMAs lie below the FTM price. The trading volume records bulk buying (green circle) among the holders and rising OBV reflect the holders’ hopes. If prices crack the breakout zone of $0.254, it can establish a bull run reaching beyond $0.300.
The CMF rises to the higher ranges showing a bullish momentum being set. The MACD records ascending buyer histograms with lines diverging for the bulls. The RSI shoots to hold a spot on the overbought edge, reflecting investors’ enthusiasm.
Microscopic view
The closer window to the 4 hour time frame shows the price rally to extend further. The CMF maintains a spot in the zone above the baseline, to mark the bull run. The MACD records buyers actively buying and a few sellers booking profits. The RSI continues to float in the overbought zone, mirroring the true emotions of the FTM fans.
Conclusion
Fantom foundation moves towards the execution of their goals for the year. The token prices rally to reflect the emotions of the holders. Prices may rally to reach beyond $0.300, if breaches $0.254. Support zone of $54.85 can be trusted by the holders.
Technical levels
Support levels: $0.16 and $0.19
Resistance levels: $0.27 and $0.29
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
