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Yesterday, the news came out that Fantom’s (FTM) key developer, Andre Cronje, has announced his departure from the project as of the end of March 2022. This caused the FTM price to drop by over 20% in the last 24 hours.
Price is currently around $1.35, which has been a very strong support area in the past. This area of support ranges from $1.30 – to $1.40. If we break the $1.30 with an open and close on the daily, the next support is at $1.15 and then $1.00. For those traders that are still holding FTM, we suggest that you don’t exit your positions, as long as the current support level still holds.