Will FTM Sustain Above This Level?

Fantom price prediction suggests that the struggle of FTM crypto near the neckline and 20-EMA may provide support. FTM crypto has been trying to recover above the $0.21544143 resistance but failed to reach the upper threshold. Yet, FTM now looks pretty close to registering its breakout. Meanwhile, buyers need to accumulate themselves in order to keep the FTM price above the bar.

Fantom cryptocurrency must recover from the 20-EMA to remain in the recovery phase and recover above the 50, 100, and 200-day daily moving average. However, the accumulation rate of buyers is not up to the desired mark for FTM to maintain its recovery for longer.

Fantom price was at $0.21463000 and gained 1.17% of its market capitalization during the day’s trading session. Trading volume has increased by 1.06% during the intraday trading session. This demonstrates that the buyers’ accumulation rate is less than the desirable amount. The volume to market cap ratio was at 6.98%.

Will Fantom Price Make or Break?

Fantom price prediction suggests a potential recovery from a lower point, leading to a significant increase on the daily time frame chart. However, there hasn’t been a remarkable change in trading volume. Concurrently, the FTM cryptocurrency is making efforts to maintain its position above the 20-day exponential moving average (EMA) in order to surpass the barriers posed by the 50, 100, and 200-day daily moving averages.

Throughout 2023, Fantom price displayed fluctuations, indicating a potential recovery amid shifting market dynamics. In the recent week, FTM observed a modest increase of 1.73%, contrasting with a notable decrease of 8.38% over the past month. Additionally, its value underwent a significant drop of around 30.80% in the last three months and a sharp decline of 49.63% in the preceding six months.

However, it’s important to highlight that considering the year-to-date performance, FTM cryptocurrency managed to achieve a positive trajectory with a gain of 7.30%. These statistics suggest the possibility of a resurgence in FTM’s momentum as it adapts to the evolving market circumstances in 2023.

The technical indicators raise concerns about the stability of FTM cryptocurrency. The relative strength index reflects an upward trend in FTM’s value. Similarly, the moving average convergence divergence supports the notion of upward momentum.

Currently, the RSI stands at 46 and is attempting to approach a neutral position. Moreover, the MACD line has moved above the signal line following a favorable crossover. Those invested in Fantom cryptocurrency should exercise patience and await any shifts in direction as indicated by the daily timeframe chart.

Summary

Fantom price prediction suggests the struggle of FTM crypto near the neckline and 20-EMA may provide support. However, there hasn’t been a remarkable change in trading volume. Throughout 2023, Fantom price displayed fluctuations, indicating a potential recovery amid shifting market dynamics. The technical indicators raise concerns about the stability of FTM cryptocurrency.

Technical Levels

Support Levels: $0.21000 and $0.208400

Resistance Levels: $0.22006460 and $0.22890248

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.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing