Fantom Price Analysis: After the 30% Weekly Crash, FTM Might Rebound Here

Fantom (FTM), which lost 45% in the last ten days, and 30% weekly following the departure of its two key developers, has suffered a 45% loss. FTM trades at 66% of its five-month high.

FTM, which was very strong during recent market retracement, even reaching back to its ATH levels at times, suffered a substantial collapse when the news was announced. The ongoing price correction intensified, and the result was an additional 45% fall.

The Daily Chart

Technical Analysis by Grizzly

FTM’s price has reached significant horizontal support, which has slowed down the price fall a little. However, fear and uncertainty in crypto and traditional markets has prevented any unusual reaction.

The next support level for the FTM price is $0.95 if the correction continues. This can hold the FTM prices in the mid-term to allow for a rebound.

The MACD indicator is located in the oversold region. If market fluctuations don’t rise from there, this structure could signal the end of the intensive price correction.

The 4-Hour Chart

The price falls within a falling wedge in the lower timeframe. The good news is that the MACD as well as the RSI both are in the oversold zone and have shown a bullish divergence which might increase the possibility of a price rebound.

FTM faces a major challenge: breaking through the horizontal resistance at $1.5.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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