- FTM price forecast downtrend from $0.30 to $0.27 on Friday’s trading session
- The 24-hour trading volume in Fantom is at $52.68 Million
- The FTM/BTC pair was trading at 0.00000736 BTC with a loss of 6.85%
The daily technical chart of FTM price action forecasts a downtrend. According to pivot points, FTM’s critical support level is placed at $0.18. Whereas if it rides up, the pivotal resistance level to watch is $0.48. While diving into the weekly chart deeply, it completes a Doji candlestick pattern.
The Ichimoku Cloud, consisting of lead 1 & lead 2 with a displacement value of 1. It functions as a pivot level and a primary indicator in the asset price change. Investors may observe the price breach under the green Moku Cloud and now hover underneath the red Moku Cloud, so until the price remains beneath the red Moku Cloud, it will ensure a bearish trend in Fantom.
Stochastic RSI indicator (BEARISH), with a value of K-20 D-23, indicates a sell signal in the coin. Moreover, Investors can see a negative slope and a negative crossover in the index, and it may plunge in future trading sessions.
The volume of (50M) showcases a low volume below the Volume MA (203M) of 20-days. Traders are directing low volume in the order book, resulting in the price level remaining in a lower region. Investors may also observe declining red volume bars in the chart.
Bears Are Hunting The Fantom (FTM) Price Action
FTM price traded at $0.27 with a loss of 9.1% in the last 24-hour and 27.2% down in the weekly time frame. Furthermore, FTM plunges from the mark of $0.40. In contrast, the market capitalization stands at $702.63 Million. Technically, investors can perceive a negative crossover and a declining slope in Stochastic RSI. The price is moving below the red Moku Cloud. Hence, shallow volume is maintained in the coin. Moreover, the price change can be towards the support of $18 in future trading sessions.