Fantom Price Analysis: Will FTM maintain above $0.19


  • FTM/USD pair trading above EMA(20).
  • First support level for Fantom is at $0.19.
  • Bears control FTM’s current price actions.
  • Fantom shows bearish momentum over the weekend.

08 December 2022 : In this article we will walk you through Fantom price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Fantom, Is FTM a good investment? Fantom support & resistance levels etc. But before diving deep into the FTM technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $841,194,397,782. The total trading volume stands at $37,214,954,728. Bitcoin shares 38.51 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,847.57 level after a decline of -1.43%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -3.09 percent reaching to $1,232.64 during the previous 24 hours.
While publishing this blog, BNB traded at $284.32, following a price change of -2.11%within the same time frame. XRP the native coin of XRP is down by -2.15 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -4.5% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Fantom Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Fantom (FTM)

FTM Resistance Levels FTM Support Levels
Resistance Level 1 $0.22 Support Level 1 $0.19
Resistance Level 2 $0.23 Support Level 2 $0.18
Resistance Level 3 $0.24 Support Level 3 $0.17

Fantom Performance

The current Fantom price is $0.23, with a trading volume of $82,864,488.00 in the past 24-hours. Currently, FTM is down by -6.43% since yesterday with a market capitalization of $587,538,854.00 USD.

Fantom Price Analysis

FTM price analysis for 08 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Fantom.

Moving Averages Price Indicator
Simple Moving Average (10) 0.21 Buy
Exponential Moving Average (10) 0.21 Buy
Simple Moving Average (20) 0.22 Buy
Exponential Moving Average (20) 0.22 Buy
Simple Moving Average (50) 0.24 Sell
Exponential Moving Average (50) 0.24 Sell

The relative Strength Index (RSI) indicates that the FTM coin is near oversold zone, as RSI is at 32. The MACD line is standing above of the signal line after a positive crossover. Fantom investors need to wait for any directional change over the daily chart. While FTM’s Williams %R indicator is at -40.047 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

The Fantom market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of FTM might try to break above its resistance level of $0.22. For now the coin is showing negative trend.