Technical Analysis Crypto

Fantom(FTM) Technical Analysis: FTM Price Feared To Plunge Another 10%

Fantom(FTM) Technical Analysis

Key Takeaways

  • The FTM price closed the previous day’s trade at $1.37 with a market capitalization of $3.41 billion and a circulating supply of 2.55B FTM 
  • The asset is currently testing the crucial support levels, where-in the bearish momentum has geared up a little
  • With a flip the asset may prevent further loss but the market sentiments are extremely bearish which possess the probability of dragging the price towards lower support

Fantom(FTM) Technical-Analysis for Today: 10 March 2022

The FTM price is swinging within range-bound levels for the past couple of days. Woefully, the asset broke down from the local support and plunged. However, only with a 5% drop, the asset manage to sustain the trembled situation with a consolidation. 

The asset may continue to accumulate for some more time to test the lower support close to $1.15 and ignite a notable rebound. The rebound may not be stronger as expected and hence the price may keep swinging in between $1.15 to $1.3 until the end of the day’s trade. 

Fantom Technical Analysis

Source: Tradingview

  • The FTM coin price is still trading within a huge descending trend and testing the crucial lower support
  • The buying volume has mounted tremendous pressure and hence a significant plunge below these levels may be fast approaching
  • However, the price is currently utilizing all its resources to stop slicing through the levels which may be possible as the sellers remain passive at the moment
  • If the asset manages to trend within the triangle until the day’s close, then a notable flip may be expected

Click here to read detailed technical analysis of Fantom(FTM) coin.

Additional Read: Crypto Technical Analysis of Bitcoin & other trending cryptos.


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The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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