24 September 2023 : 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.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,054,457,671,679. The total trading volume stands at $14,778,830,399. Bitcoin shares 49.16 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $26,591.96 level after an upward movement of 0.1%.
A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.23 percent reaching to $1,594.45 during the previous 24 hours.
While publishing this blog, BNB traded at $210.71, following a price change of 0%within the same time frame.
XRP the native coin of XRP is up by 0.16 and currently trading at $0.51.
Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% 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.
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 |
The current Fantom price is $0.19, with a trading volume of $16,617,363.00 in the past 24-hours. Currently, FTM is up by 0.83% since yesterday with a market capitalization of $529,989,914.00 USD.
FTM price analysis for 24 September 2023 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 | Sell |
Exponential Moving Average (10) | 0.21 | Sell |
Simple Moving Average (20) | 0.22 | Sell |
Exponential Moving Average (20) | 0.22 | Sell |
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. Fantom is moving in downward direction as bears successfully take the coin below immediate support level of $0.19. Now FTM should find a support at $0.18 or else the sellers could then target the crucial support level placed at $0.24. 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.
FTM price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Fantom to make a one directional move to make a good entry in the market.