Journalist
- Fantom seemed to have a strongly bearish structure on the daily chart
- OBV slipped below November lows while the next downward price target was at $0.5
At the time of writing, Fantom [FTM], soon to be rebranded to Sonic, had a bearish outlook on the technical analysis front. Its price action has been intensely bearish over the past month. In fact, it has noted 52.6% losses in just 26 days.
FTM will see a 1:1 token swap on Binance to the new Sonic token S. The strategic plan to introduce Sonic as a new layer-1 blockchain, promising 10,000 transactions a second, could bolster demand for the token in the coming weeks.
Fantom prices keep tumbling lower
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