KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling

Subscribe to Updates

Get the latest Crypto news from kronosslott.

What's Hot

What is going on with Aptos’ price?

January 29, 2023

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023
Facebook Twitter Instagram
  • Affiliate Disclosure
  • Anti Spam Policy
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram
KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling
KronosSlott
Home » Fantom Bear Market Struggle Continues; Will Price Break The Downtrend Jinx?

Fantom Bear Market Struggle Continues; Will Price Break The Downtrend Jinx?

adminBy adminOctober 16, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Fantom Bear Market Struggle Continues; Will Price Break The Downtrend Jinx?
Share
Facebook Twitter LinkedIn Pinterest Email


  • FTM’s price struggles as a downtrend price movement continue. 
  • FTM failed to breakout from its range channel as the price was rejected into a downtrend price formation with more sell volume.
  • The price of FTM shows bearish signs as the price trades below the 50 and 200 Exponential Moving Averages (EMA).

Fantom (FTM) price movement has had a rough time as the price of Fantom (FTM) shows little or no sign of price bouncing off from its downtrend price formation against tether (USDT). The crypto market recently faced a slight setback with Bitcoin’s (BTC) price dropping from $19,000 to $18,100 as the Consumer Price Index (CPI) news indicated an increase in inflation, which affects the price of BTC and altcoins. (Data from Binance)

Fantom (FTM) Price Analysis On The Weekly Chart

Given the sharp decline in the crypto market after the release of the CPI news, the market appeared to be manipulated, with Bitcoin (BTC) dropping from $19,200 to $18,200 in hours and then back up to a range high of $19,800 before rejection back to $19,200. With the possibility of Bitcoin Dominance (BTC.D) rising to a high of 45%, altcoins could suffer more if BTC retraces. 

After dropping to a low of $0.22, the price of FTM bounced off this region as price rallied to a high of $0.42, but the price was soon met with more rejection to the weekly low.

FTM currently trades at $0.2 as the price faces resistance to breaking higher; FTM needs to bounce off this region price has found itself as price dropping lower could lead to more sell-off for holders as there would be more panic for FTM price. FTM needs to breakout this downtrend price formation for the price to have opportunities to trend higher; if the price continues this way, we could see retesting the region of $0.15.

Weekly resistance for the price of FTM – $0.25.

Weekly support for the price of FTM – $0.15

Price Analysis Of FTM On The Daily (1D) Chart

Daily FTM Price Chart | Source: FTMUSDT On Tradingview.com

The daily timeframe for the price of FTM has been more of a struggle to avoid going lower than breaking out of the downtrend. FTM’s price has since struggled after failing to hold support.

FTM’s price trades at $0.2 as the price continues its movement below the 50 and 200 Exponential Moving Average (EMA); the price of $0.5 and $0.24 corresponds to the 200 and 50 EMA, acting as resistance for the price to break higher. 

The current market is not favorable for FTM but undoubtedly is one of the great crypto projects that would pick as the market bounces from its downtrend movement.

Daily resistance for the price of FTM – $0.24-$0.35.

Daily support for the price of FTM – $0.2.

Featured Image From zipmex, Charts From Tradingview 



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
admin
  • Website

Related Posts

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits – Exchanges Bitcoin News

December 12, 2022

What is a Doji candle pattern and how to trade with it?

December 12, 2022

Bitcoin Price Slides As Markets Brace For Fed Policy Decision And Inflation Data

December 12, 2022

Comments are closed.

Don't Miss

What is going on with Aptos’ price?

Blockchain January 29, 2023

Join Our Telegram channel to stay up to date on breaking news coverage According to…

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023

BTC/USD Consolidates Around $23,000 Level

January 28, 2023
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Our Picks

What is going on with Aptos’ price?

January 29, 2023

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023

BTC/USD Consolidates Around $23,000 Level

January 28, 2023

Subscribe to Updates

Get the latest Crypto news from kronosslott.

About Us
About Us

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook Twitter Pinterest YouTube WhatsApp
Categories
  • Altcoin (4)
  • Bitcoin (2,020)
  • Blockchain (780)
  • Ethereum (320)
  • Gambling (2,082)
  • Litecoin (55)
  • NFTs (2)
Our Picks

What is going on with Aptos’ price?

January 29, 2023

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023
©2022 –Kronosslott. All Rights Reserved. Kronosslott.com is an independent i-Gaming news site and casino comparison service. Every effort is made to ensure that the bonus offers listed here are accurate and up-to-date. However, we accept no responsibility for inaccuracies or errors. It is your responsibility to confirm the terms of any promotion you choose to accept. Looking to Advertise with us? Kronosslott is always looking for new partnerships. To Inquire please email kronosslott@gmail.com

Type above and press Enter to search. Press Esc to cancel.