Fantom price prediction indicates the struggle of FTM crypto at the lower level to sustain and reverse the trend over the daily time frame chart. FTM crypto needs to attract buyers in order to rebound from the current level and get back inside the consolidation phase. Meanwhile, Fantom price slipped from the $0.32533767 level in July 2023. After that, FTM cryptocurrency tried to gain upward momentum but failed to retain its position in the upper side and slipped again till the current level after a mild consolidation. However, buyers need to come forward to save FTM from slipping more over the daily time frame chart.
Fantom price was at $0.23495000 and has gained 0.60% of its market capitalization during the day’s trading session. Trading volume has gained 1.76% during the intraday trading session which demonstrates that buyers are trying to accumulate to push FTM upwards. Volume to market cap ratio was 6.38%.
Fantom Price Prediction: Technical Analysis
Fantom price prediction indicates that the crypto may rebound from the lower level to surge over the daily time frame chart. The volume change is not impressive. Meanwhile, FTM crypto has slipped below 20, 50, 100 and 200-days daily moving averages.
In 2023, the price of Fantom (FTM) experienced fluctuations, showing signs of recovery amidst market changes. Over the past week, FTM witnessed a 5.07% decrease, and in the last month, it faced a more substantial decline of 21.26%. Furthermore, its value dropped approximately 43.07% over the past three months and a sharp 58.85% in the last six months.
However, it is worth noting that year to date, FTM crypto managed to make a positive move, gaining 17.03%. These figures point towards a potential revival in the momentum of FTM crypto as it adapts to the market conditions in 2023.
Technical indicators suggest the sustainability issues of FTM crypto. Relative strength index (RSI) showcases the struggle of FTM crypto. The moving average convergence divergence (MACD) has been struggling to signal any type of crossover.
RSI was at 38 and is trying to move towards neutrality. The MACD line is overlapping the signal line waiting for any type of crossover. Investors in Fantom cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Fantom price forecast shows that FTM cryptocurrency is having difficulty maintaining and reversing the trend on the daily time frame chart at the current level, with below average volume. Fantom’s (FTM) price has fluctuated so far into 2023, but it also appeared to be recovering despite changes in the market. FTM has dropped by 5.07% during the past week and by a more significant 21.26% over the previous month. Technical signs point to FTM crypto’s sustainability problems. Investors in the Fantom cryptocurrency must watch the daily time frame chart for any directional changes.
Technical Levels
Support Levels: $0.22825002 and $0.21514270
Resistance Levels: $0.24045338 and $0.25161409
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/05/fantom-price-prediction-will-ftm-make-its-return-from-here/