Fantom Price Analysis: Bulls seem to be on a comeback

Polkadot Price Analysis

TL;DR Breakdown

  • Fantom price analysis is slightly bearish today.
  • Price has dropped down to $1.39.
  • Next, support for FTM/USD is present at $1.28.

The Fantom price analysis is bearish, with the price function continuously declining. The FTM/USD has established a lower low as the price currently sits at $1.39, its lowest level this month. Throughout the last week, bears have dominated, and FTM went through a significant loss during this period. Today’s trend is bearish, and the price will likely continue to decline.

The Fantom price analysis is strongly bearish today, with the price dropping to $1.39. This is the lowest level this month and confirms a continuation of the bearish trend. The next support for FTM/USD is present at $1.28. If the bears continue their trend, the next support location will be at its lower boundary for this month, established earlier today at $1.39.

FTM/USD price movement in the last 24 hours: Bears eradicate further chances of elevation for Fantom

The market analysis for today is quite bearish, with the FTM/USD pair dropping down to the current price of $1.39. This is a continuation of the bearish trend that we have observed over the past few weeks and confirms that bears are currently in control of this market. The next support for this currency pair is present at $1.28, which is its lower boundary for today.

The moving average (MA) is at the $1.9 position, and the Directional Movement Index is also in a bearish state.

The moving average convergence divergence (MACD) oscillator indicator shows low volumes, which confirms the strong bearish trend exhibited by this market. In addition, the bulls have been unable to perform an upward move for several days now. Bulls are currently at the $1.5 position and will need to strengthen soon with a grip on bullish momentum if they want to achieve significant elevation in the future.

Fantom price analysis: Recent developments and further technical indications

The 4-hour price chart for Fantom price analysis shows a subsequent retracement up to the $1.7 handle after the price breaks out downwards. It is now trading below this level and looks set to resume its downward journey, with next significant support at $1.3 (200-period moving average on the four-hour chart).

The RSI is bearish and pointing downwards; MACD is negative and about to cross its signal line; DMI has Bulls in control but weakening, ADX is trending lower.

These indicators suggest that the price could fall further in the short term before finding strong support around $1.3. A break below this level could continue the downtrend towards $1 or even lower levels.

Fantom Price Analysis: Bulls seem to be on a comeback 1
FTM/USD 4-hours price chart. Source: TradingView

The FTM price continues to rise, with the upper Bollinger band finally settling at $2.1 and the lower limit set at $1.25, representing FTM support. The average indicator is presently located near $1.6, indicating resistance for FTM/USD. The RSI is currently trading in the oversold range, indicating that the coin is undervalued at the moment because the RSI score is only 26.

Fantom Price Analysis: Conclusion

Today’s price movement confirmed a continuation of the downward trend for Fantom within a lower range of values, with bears in control of this market for a sustained period. The FTM/USD is currently sitting at its lowest value this month, and the next support is at $1.28.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Related News

Hot Stories

How to Stake on Uniswap: A Quick Guide to Passive Income
Aave price analysis: AAVE increases value by 3.5% after strong bullish movement
Ethereum price analysis: ETH wobbles near $1,700 as bulls desperate to touch $1,800
Bitcoin, Binance Coin, Tron, and FTX Token Daily Price Analyses – 7 August Morning Price Prediction
Bitcoin price analysis: Tug of war between bulls and bears keeps BTC below $24k

Follow Us

Industry News

Elon Musk drags Twitter to court for fraud
Binance CEO Urges To Move Funds From WazirX To Binance
Bitcoin falls to $23K on U.S. jobs report
How are the top cryptocurrencies selected?
Voyager Digital set to refund users with a $270 million fund