Fantom Price Analysis: FTM Coin Price Continues To Form A Bearish Pattern

• FTM coin price is currently seeing a downside momentum and can soon hit the next support in the future. Meanwhile, it has seen a loss of more than 8% in the past 24 hours.
• The technical indicators of Fantom suggest a bearish trend in the price for the future. Meanwhile, FTM/BTC pair is also down by more than 6.8% in the intraday session

FTM coin price is currently observing a downside momentum in the daily chart which can push the price to a lower level. Fantom coin price is currently seeing a loss of 8% in the intraday session and is trading near the value og $2.7. The asset price has to move 21% from the current level to reach an all-time high. FTM has an ROI of more than 18829% which has benefitted various retail and institutional investors. It is currently seeing a bearish trend which can push the price to a lower level. One can forecast that the FTM price might see a strong in the future.

Fantom coin market dominance along with the market cap is also seeing a downtrend momentum which can push the price to a lower level The volume of the asset is also seeing a surge. The volume to market cap ratio of the FTM hints towards a bullish trend in the price for the future. One can invest in Fantom as per their needs and risk capacity.

Bears Of FTM Coin Price Might Push It To A Lower Level

The weekly technical chart of the FTM suggests a strong bearish trend in the price for upcoming days. It has seen a gain of more than 9% in the past week. Binance coin price has formed a strong bullish engulfing pattern in the daily chart. The upside trend of FTM while going forwards can be seen near $3.5. Meanwhile, on the downside, the bounceback region of the coin can be found near $2.. It is currently trading above the 50 and 100 Daily Moving average, with an upcoming bullish crossover. If the coin price jumps 20% above the current level then a strong upside momentum can be seen in upcoming days. FTM/BTC pairs can also see strong momentum in the future.

Conclusion

FTM coin price is currently seeing a bearish momentum in price but can soon see a new high. FTM/BTC pair can also see a new high in the future. One should do their due diligence before investing

Technical Level

Major Resistance:$3.5
Major Support:$2

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