Fantom Struggling To Hold Support And About To Print Strong Bear

Fantom's daily chart is one of the most bearish at the moment. The token has been in a strong downtrend since March and is about to approach a decisive moment.

Currently, Fantom struggles to hold above a major support level at 0.43. Moreover, the price reaches a corner build of the support level at the long-term downtrend. As a result, it is likely that we will see a breakout soon.

Unfortunately, the probability of a drop is much higher than a break out to the top. Here's why:

FTM is about to print a bearish Tenkan/Kijun crossover. This crossover is about to happen below the Ichimoku cloud — this is considered an even stronger signal. Besides, the price trades below the Ichimoku cloud, and the future cloud predicts a bearish trend. Overall, three aspects that signal a high risk of further drop.

In case of a drop, the next support sits at ~0.35.