Home
News
- 1 Fantom coin price decreased by 0.92% over the last week and is trading below the dominant resistance trendline.
- 2 The FTM coin price is trading at $0.18894000 and the 52-week range is between $0.16466000 – $0.65484000.
Fantom, a fast, scalable, and secure blockchain, has made several exciting announcements in the past few weeks that showcase its progress and potential. One of them is hiring Joseph Epstein as Chief Marketing Officer, a veteran marketer who has worked with top firms like Sony Pictures, 20th Century Fox, TikTok, and more. He will lead Fantom’s global marketing strategy and execution to promote the platform to the world.
In addition, Fantom 2.0, a huge upgrade for the fast, scalable, and secure blockchain, was unveiled at TOKEN2049, Asia’s biggest digital asset event. It will make Fantom faster, more flexible, and more interoperable. It will also let users write smart contracts in any language and run Web3 apps and services.
Furthermore, Fantom also joined Google’s BigQuery, a data analysis service. Google added Fantom’s on-chain data to its public datasets, so anyone can query it with SQL on Google Cloud. Fantom also impressed the attendees at TOKEN2049 in Singapore with its achievements and innovations.
Fantom also met other industry leaders and influencers like Ethereum’s co-founder Vitalik Buterin. These updates show Fantom’s dedication to building a world-class blockchain for Web3. With a great team, a loyal community, and advanced technology, Fantom is ready to be one of the top platforms in the blockchain space.
Moreover, the FTM token surged 0.60% in market value and 36.09% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $529,262,158 and its trading volume is $29,721,005. There are 2,803,634,836 FTM in circulation.
FTM Coin Price Technical Analysis in the 1-Day Timeframe
The FTM price faced resistance from the exponential moving averages (EMAs) and was trading at $0.18894000 price with an intraday loss of 0.34%.
The FTM price had been falling for a long time following a downward trendline on the charts and facing constant resistance. At the time of writing, the FTM price is at $0.18894000; trading near vital support and moving sideways in a range. Furthermore, if FTM breaks above the nearest resistance, it might rise for reclaiming levels. On the upside, the FTM price could meet the nearest resistance levels at $0.2167 and $0.24623818.
On the other hand, the FTM price could resume its downtrend and reach the nearest support levels at $0.17857999 and $0.16258806 if it fails to hold the current level.
FTM has been weak in the last month, losing 5.59% of its value and dropping by 39.30% in the last three months. Fantom (FTM) has a negative annual return of 15.78%.
The MACD line at 0.00501415 and the signal line at 0.00557838 are both under the zero line and they are crossing each other. The histogram gap is narrow in the MACD oscillator, which shows that the price is consolidating.
The RSI value is 40.93 points and the 14-day SMA is 39.91 points, which is below the middle line. This means that the price is below the median line.
At the time of publishing, Fantom (FTM) is trading below the 20, and 50-day EMAs (exponential moving averages) which are rejecting the FTM price trend.
Conclusion
FTM price shows negative outlook and expectations of the investors and traders about the token in the daily chart. Fantom price movement shows a bearish trend at the time of writing as FTM is under trendline resistance and moving sideways. Furthermore, the technical indicators of the Fantom price suggest that the consolidation may turn into a downtrend in the daily chart. The important reliable indicators MACD, RSI, and EMA, give negative signals about the FTM price.
Technical Levels:
- Support levels: $0.17857999 and $0.16258806
- Resistance levels: $0.2167 and $0.24623818
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
