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Homeprice predictionFantom Technical  Analysis: Will FTM Coin Break 200 EMA Barrier?

Fantom Technical  Analysis: Will FTM Coin Break 200 EMA Barrier?

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  • Fantom (FTM) is trading at $0.302192 with a rise of 5.10% in the last 24 hours.
  • The Fantom price has been observing an increase of 20% in the previous 7 days.
  • The FTM market capitalization is $845392509.

By evaluating the price data of the FTM coin, it is in a downtrend currently. The price inclined by 20.18% in the last seven days, and we can say that Fantom performed well last week. From its peak price of $3.46, it fell -91.26% in the previous 1 year. The coin demolished the major investor’s wealth. The current market sentiments are not good about the coin. There is no massive volume in Fantom. Buyers are not available in the present market conditions and are also not interested in buying. The market is under the control of the bears.

Fantom (FTM) Technical Analysis

The price of Fantom (FTM) has slipped below 50 and 200 EMA, which suggests that the price is in a bearish trend. There is a possibility that the coin’s value will fall even further in the upcoming week if the seller continues to push the price down. The price has been consolidating near 200 days EMA again, which shows that bears are not in the mood to give power to bulls. A death cross has also been seen in the chart between 50-day and 200-day EMA.

Fantom (FTM) Technical Analysis
Source:  FTM/US DOLLAR .1D by TradingView

The technical indicator MACD is also in the negative zone. The MACD line at 0.01366298 and signal line at 0.02137878 is below the zero line, suggesting the MACD is in negative territory, giving bearish signals.

The current value of RSI is 52.20 points. The 14 SMA line is below the median line, around 37.00  points, showing bearish sentiment in the market. The 14 Day SMA line below the median line indicates a bearish trend. The bearish sentiment spreads around the market as the price is currently at an oversold zone.

Trendline Analysis

The price has respected its significant trendline support and is going toward resistance. If the price breaks the trendline, it will go up to the next resistance; if it gets rejected by the resistance, it will return to the current support.

Volume Analysis

Fantom (FTM)’s trading volume of 24 hours is $131845708, with a 14.60% increase in volume in the last 24 hours. There is a  significant boost in the volume of the coin.

Technical Levels

  • Support – The current support level of FTM is $0.218.
  • Resistance –The current resistance level of FTM is $0.491.

Conclusion

FTM is facing a tough time in the market. The price action suggests it may fall more in the upcoming days if it breaks its primary trendline support level. FTM price shows a pessimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD give negative signals about the Fantom coin. The fear is growing among investors because of the poor performance of the coin. Recovery signs are not visible in the coin as well.

Disclaimer

The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.

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