Fantom (FTM) has a fully diluted valuation (FDV) of $767,041,332. This is a hypothetical market cap, assuming all 3.2 Billion FTM tokens are circulating today. This is according to the crypto data and information website Coingecko. However, the actual FDV may take years to reach, depending on how the FTM tokens are distributed over time.
As per Coinmarketcap, Fantom crypto surged by 2.97% in market value and plummeted by 5.40% in trading volume in the last 24 hours. Its market value is $674,167,425 and its trading volume is $44,543,712. There are 2,801,855,123 FTM in circulation.
Fantom coin’s (FTM) open interest is $60.85 Million. As per Coinglass, another crypto analysis website, it rose by 1.16% in the previous session. The long versus short ratio for 24 hours is 0.9573. The total number of short positions added in the last 24 hours is $25.43 K against longs of $16.38 K.
FTM Coin Price Technical Analysis in the 1-Day Timeframe
FTM coin price showed a downward trend for the past three months, decreasing by 36.84% during this period. At the time of publication, the FTM Coin price is trading at $0.241560, and the price took support at $0.228201.
Therefore, if the FTM Coin price sustains the current level and rises, then it might hit the nearest resistance levels of $0.263968 and $0.333460.
However, the FTM coin price could continue to move downwards and reach the nearest support levels at $0.228201 and $0.194477. If it fails to maintain the current level.
At the time of publishing, the FTM coin price (BITSTAMP: FTM) is trading below the 20, 50, 100, and 200-day EMAs (exponential moving averages), which are rejecting the FTM Coin price trend.
However, the price is approaching the EMA’s, if more buying volume adds up then the price might conquer rejecting EMA’s by making higher highs and lows.
Hence, FTM Coin price prediction estimates the prices to move upwards, indicating a bullish outlook over the daily time frame chart for its price.
The MACD line at 0.008854 and the signal line at 0.010292 is below the zero line and both lines crossed each other. A bullish crossover is observed in the MACD oscillator, suggesting bullish signals. The current value of the RSI is 44.74 points and the 14-day SMA is below the median line at 44.74 points, which indicates an upward direction and bullish sentiments in the market for the FTM coin.
Conclusion
FTM coin price prediction highlights the bullish sentiments and perspectives of investors and traders regarding the Fantom coin in the daily time frame. Fantom price action highlights a bullish view at the time of publishing. Moreover, the technical parameters of the Fantom price suggest the continuation of the uptrend over the daily time frame chart. Major trustworthy indicators MACD, RSI, and EMA, provide positive signals regarding the FTM coin price.
Technical Levels:
- Support levels: The nearest support levels are $0.228201 and $0.194477.
- Resistance levels: The nearest resistance levels are $$0.263968 and $0.333460.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/09/ftm-coin-price-prediction-2023-can-bounce-back-upto-1/