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- 1 Fantom price prediction showcases that the cryptocurrency has been consolidating inside the horizontal range.
- 2 FTM crypto may get support from 20-EMA to surge toward the 50, 100 and 200-days Daily Moving Averages.
- 3 The pair of FTM/BTC was at 0.000009954 BTC with an intraday drop of 1.60%.
Fantom price prediction highlights that FTM crypto may surge as soon as it breaks out from the consolidation phase. FTM crypto needs to gather support to surge from 20-EMA and initiate its recovery rally. However, sellers may approach as soon as FTM approaches the $0.333 primary resistance level of the horizontal range-bound area. Fantom crypto price has been moving sideways inside the horizontal price range of $0.2328 and $0.333.
Fantom price was at $0.3035 and has lost 0.33% of its market capitalization intraday. Nevertheless, trading volume has increased by 11.24% during the intraday trading session. This demonstrates that buyers are still intend to push FTM crypto price. Volume to market cap ratio was at 0.1409.
Will FTM Escape From the Consolidation Phase?
Fantom price prediction indicates the sideways momentum of FTM crypto inside the horizontal price range over the daily time frame chart. FTM crypto must surge toward the upper threshold of the consolidation phase to initiate its recovery phase. Meanwhile, FTM crypto may get support from the 20-EMA to surge towards the 50, 100 and 200-days Daily Moving Averages.
In addition, analysts do confirm the facts regarding FTM crypto’s recovery towards $0.50 recovery level. Also, FTM crypto has surged by around 51.22% in the last six months and 52.13% year to date. This shows that FTM crypto may recover maximum by the end of 2023.
Technical indicators suggest the sideways momentum of FTM cryptocurrency. Relative strength index showcases the consolidation phase of Fantom crypto. RSI was at 51 and is flat above neutrality.
MACD also exhibits the sideways momentum of FTM cryptocurrency. The MACD line is hovering above neutrality at zero. Investors in Fantom cryptocurrency need to wait until FTM crypto price approaches the upper trendline of the consolidation phase which is the primary resistance level.
Summary
Fantom price prediction highlights that FTM crypto may surge as soon as it breaks out from the consolidation phase. FTM crypto must surge towards the upper threshold of the consolidation phase to initiate its recovery phase. Also FTM crypto has surged around 51.22% in the last six months and 52.13% year to date. Technical indicators suggest sideways momentum is present on the FTM cryptocurrency chart. RSI was at 51 and is flat above neutrality.
Technical Levels
Resistance Levels: $0.333 and $0.50
Support Levels: $0.288 and $0.25
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.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
