The Fantom (FTM) crypto price trades in a narrow range and displays low investor interest this week. The FTM crypto took support on the 100-day EMA mark and is eyeing for a breakout.
However, the Fantom crypto had done the retracement of over 30% last month and has retested the support zone of the $0.6000 mark. A break and close above the $0.800 mark would validate the reversal.
At press time, the Fantom crypto (FTM) price traded at $0.7107 with an intraday drop of 2.76%, reflecting neutrality on the charts. It has a monthly return ratio of -28.90% and 93.29% yearly.
The pair of FTM/BTC is at 0.0000117 BTC, and the market cap is $1.27 Billion. Analysts are neutral and suggest that the FTM price may register a sharp bounce and will head toward the $1 mark soon.
Can Fantom (FTM) Regain Momentum: Price Action Outlook
On the daily charts of the Fantom crypto, range-bound movements, and low investor interest were witnessed. Amidst the market’s negative sentiments, the Fantom crypto has made gains decisively and remained above the 100- and 200-day EMA mark, revealing the short-term profit booking outlook.
Source: TradingView
The intraday trading volume showed a notable bounce of over 45.36% to $193.29 Million. The Momentum Indicator (Relative Strength Index) looks neutral, and the curve stands at 47, replicating a positive crossover.
Likewise, the daily transactions of the Fantom crypto showed a notable spike of over 97% this week.
Source: Artemis
Going forward, the social dominance of the Fantom crypto went relatively lower and reached the downside mark of 0.093%, implying slippage in the social platforms’ popularity.
Conversely, in the last 24 hrs, the value of Twitter followers showed a gigantic up move and surged over 43.89% to 88.
The immediate support levels for the Fantom crypto (FTM) are $0.6970 and $0.6800, whereas the key upside hurdle is around $0.7200, followed by $0.7400.
Conclusion
The Fantom (FTM) crypto signifies range-bound movement and is ready for an upcoming blast ahead. If the trendline barrier of $0.800 is breached, a sharp up move can be seen.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
