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- Fantom crypto’s trading volume has surged by 147% in the last 24 hours.
- Its price declined by 36% in June and showed weakness.
The Fantom crypto price has been bullish since the beginning of 2024 and has extended to a 52-week high of $1.20. Buyers failed to hold the high, and profit booking was seen. The price declined by 50% in 3 weeks and dropped to the 200-day EMA.
From the beginning of 2024 to mid-June, the buyers defended the 200-day EMA. For the past 2 days, the selling pressure has remained high, and the price has slipped below the 200-day EMA.
When writing, the FTM crypto price traded at $0.500 with an intraday loss of 11.50%. The market capitalization is $1.80 Billion, and the 24-hour trading volume is $243.10 Million. The circulating supply is 2.80B FTM, and the total supply is 3.17B FTM.
Fantom Price Drops Below the $0.6300 Level: Will Buyers Bounce Back?
On a daily time frame, the FTM crypto price has slipped below the major support level of $0.630. The recent cryptocurrency trend is bearish, which has impacted Fantom’s price.
The trend is bullish, but sellers seem strong in the short term. The digital asset price has risen by forming higher highs and higher lows. Currently, the Fantom crypto price is heading for a new higher low.
If the FTM price bounces back from the $0.500 hurdle and trading volume supports, the price might create a new higher low. The buying momentum at the higher low may attract buyers and make them eye for a new higher high.
On the other hand, if the buyers fail to bounce back, the FTM crypto price may melt to the major support level of $0.350. Sellers may be eyeing a new all-time low if the price starts trading below the $0.350 mark.
Turning to the technical indicators, the Fantom price is trading below the key moving averages, which showcases the bearish trend. RSI is 26, which has rapidly dropped to the oversold zone.
Is It Good to Buy the Dip in the Fantom Crypto?
Buying a ton more $FTM the whole day. Could it go lower, well than I buy more!
— mrpatrickschmitt (@mr_pschmitt) June 18, 2024
Don‘t care about today‘s or next month‘s price.
With #Sonic coming I expect at least $7-10.
I have time! $S @FantomFDN pic.twitter.com/Gk8cf2b0kK
A source on X claims that the Fantom price might bounce back, so it may be good to buy the dip. Today’s and next month’s losses may not affect it long because of its image in the cryptocurrency market.
Conclusion
The recent drop in Fantom’s price has raised concerns among investors and traders. The cryptocurrency has experienced a significant decline, with the price slipping below the $0.630 level.
Currently, the FTM price is trading at $0.500, reflecting an intraday loss of 11.50%. The market capitalization is $1.80 billion, with a 24-hour trading volume of $243.10 million. The circulating supply is 2.80 billion FTM, while the total supply is 3.17 billion FTM.
Technical Levels
Based on the chart structure, the Fantom crypto price is expected to take support at the $0.450 and $0.350 levels. The price might face resistance from the $0.630 and $1.00 mark.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
