Fantom (Sonic) is testing strong support – Correction finished? [Video]

Gregor Horvat Wavetraders

Fantom has rebranded and migrated to a new blockchain called Sonic (S). The migration swaps FTM tokens 1:1 for S tokens, introducing a faster, more scalable network capable of up to 10,000 transactions per second with sub-second finality. Sonic aims to improve performance, developer incentives, and user experience while most exchanges and wallets now support the migration automatically.

Fantom (Sonic) is testing the 2022 lows, but notice that it can be finishing the wedge pattern within wave C of a larger ABC corrective decline. So, be aware of limited weakness, and watch out for a bounce and recovery, just keep in mind that first bullish evidence is only above 0.45 area.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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