FTM price treads water on weekends because it strikes sideways with no significant worth motion. The present worth motion suggests sellers look exhausted and search for some assist. Fantom is the 29th largest cryptocurrency by market cap however it’s comprised of a really compelling know-how and a rising ecosystem.
- FTM worth trades with a modest achieve on Saturday.
- Anticipate extra falls if the worth breaks beneath the weekly shut of $1.14.
- Fantom fell 30% over the previous week.
As of publication time, FTM/USD is buying and selling at $1.20, up 0.53% for the day.
FTM worth trades close to very long time assist stage
On the every day chart, the FTM worth is hovering close to the long-term assist stage with lesser volumes. FTM has dropped practically 65% from January highs of $3.37.
FTM worth may bounce again from the present ranges as prior to now it recorded a leap of 45% when retreated from a report excessive of $3.48 made on October 28.
On the identical line, FTM costs will face many upside hurdles attempting to interrupt the descending development line in an effort to maneuver increased.
The primary fast resistance is positioned on the crucial 200-EMA (Exponential Transferring Common) at $1.66. Subsequent, bulls will take out the 50-day EMA of $1.96.
A sustained shopping for stress will try to shut above the bearish slopping line with the goal of $2.0. Subsequent, market members make an try to take out the horizontal $2.50 horizontal resistance line.
On the flip aspect, a every day shut beneath the $1.20 will set off a recent spherical of promoting within the asset. With greater than common quantity buyers would possibly revisit the lows of September 22 at $0.97.
Technical indicators:
RSI: The every day Relative Power Index produces bullish divergence since February 23, which may lead to a brief time period bounce again in worth.
MACD: The Transferring Common Convergence Divergence trades beneath the midline from January 24 with a unfavourable bias.
Disclaimer
The offered content material could embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.
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