![Fantom [FTM] surges to $0.46, but here’s why the rally could halt](https://i.headtopics.com/images/2023/3/30/cryptoamb/fantom-ftm-surges-to-0-46-but-here-s-why-the-rally-fantom-ftm-surges-to-0-46-but-here-s-why-the-rally-1641267753829974016.webp)
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The trendline resistance could halt or even reverse recent gains. The $0.4 area has served as significant support throughout March. Fantom [FTM] rallied strongly from a zone of support the bulls established around the […]
, Fantom announced its intent to modify the requirements for validator staking on 25 March. The new proposal had significant modifications that would have noticeable consequences in the processes and requirements for validators.Source: FTM/USDT on TradingView
Alongside the trendline resistance, the Visible Range Volume Profile showed that the Point of Control also sat at $0.46. This was a confluence of resistances that could see the rally shift into a consolidation phase over the next few days.
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