•FTM/USD is currently priced at $0.26 and has decreased by 0.15% over the past day
•The trading volumes have decreased by 50.34% over the past day
•The technical indicators suggest a neutral outlook for the near term
Short Term View: FTM needs the influx of buyers to stage an uptrend
The Fantom price today is $0.269126 USD with a 24-hour trading volume of $60,556,353 USD. Fantom is down 0.15% in the last 24 hours. The trading volumes have decreased over the past day as the altcoin struggles to attract buyers at the current price levels. The Volume to Market Cap Ratio, on the other hand, stands at 0.08841 for the altcoin.
Fantom has witnessed a continued downfall in price since last month. The asset has been in a protracted downtrend for the better part of the year which has wiped a significant chunk of its value. The FTM Price is currently transacting below the 20,50 SMA on the four-hour chart as the altcoin is struggling to attract buyers at the current price levels. The asset has established support at the crucial $0.20 mark which will be of utmost importance to the bulls. The resistance, on the other hand, is placed at $0.34 in the event of the bulls staging a comeback. The next couple of days will provide us with an insight into the future course of the coin as it remains to be seen if the bulls will be able to flip the momentum in their favor.
Long Term View for FTM
The technical indicators for FTM suggest that bullish momentum is brewing in the altcoin. The RSI is currently transacting at 36.89 and the RSI line’s move above the 14-day average line indicates that the momentum is shifting in the market. The MACD indicator depicts that the red histograms have rapidly shrunk in size on the daily chart as bulls circle around the asset in an attempt to stage an uptrend. The MACD and signal lines are transacting in the negative zone, yet a bullish crossover is on the horizon for Fantom Coin which could kickstart an uptrend for the altcoin.
Conclusion
The selling pressure is likely to cool down in the coming week as the FTM Coin aims to fight the bearish wave. An influx of buyers in the market will go a long way towards flipping the sentiment regarding Fantom Coin.
Support: $0.20
Resistance: $0.34
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.