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- Fantom Coin is breaking a bullish trend line on the 4-hours price scale.
- FTM coin may find support in the near-demand zone.
- The pair price of FTM with BTC is up 4.1% at 0.0000146 satoshis.
Fantom Coin was bullish in April as the price declined from the $1.6 level. Although buyers are making a decent effort to recover the loss cost of the asset, the bulls again struggle in the retracement phase. Thus, at the time of writing FTM Coin is trading at $0.309 Mark.
FTM in 4-Hour Price Graph
FTM coin was trading above the upward trend line (above the chart) before reversing from the 30-day high. On August 15, buyers failed to keep the asset price above the pumping zone. However, buyers try to keep the price higher above the $0.30-support area. Below this level, buyers may see 2022-lowers.
Meanwhile, the market cap of the FTM coin is seen in the green zone at USD 787 million, up 1.2% in the last 24 hours as per CMC. Trading volume remained neutral at $282 million. Furthermore, the price of the FTM pair with BTC is up 4.1% at 0.0000146 satoshis.
FTM on Daily Price Scale
After a sharp drop, buyers pushed the asset price above the 100-day moving average in August, but in line with the crypto market trend, bears again pulled the asset price below 20,50, and the daily price scaled back. In context 100 DMA. Similarly, the RSI indicator takes support at the 40-level.
Conclusion
Buyers need to keep the Fantom price above the $0.30-round level till the weekly close. A weekly close above the $0.30 mark may help buyers push the FTM price higher. Besides, the 20-DMA will be the first bullish barrier if the price turns upwards.
Technical Levels
Resistance level- $0.50 and $1.0
Support level- $0.20 and $0.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She 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. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
