Fantom Price Analysis: FTM Coin Price May See A Further Dip In Future

• FTM coin price has been on a downside trend and can soon revert to a new high in the upcoming days. Meanwhile, the asset has seen a loss of more than 0.2%.
• The technical indicators of Fantom hint towards a new low for the future. Meanwhile, FTM/BTC pair has also seen a dip of more than 1.5%

FTM coin price is currently in a downside fall and can soon hit the next support level in the upcoming days. Fantom coin price is currently exchanging close to the worth of $1.45 and has seen a rise of 0.5% in the intraday session. The asset cost needs to move 35% from the current level to arrive at an untouched high. FTM has an ROI of over 18829% which has helped different retail and institutional financial backers. It is at present seeing a negative pattern which can push the cost to a lower level. One can estimate that the FTM cost may see a solid move later on.

Fantom coin market strength alongside the market cap is additionally seeing a downtrend force which can push the cost to a lower level. The volume of the resource is likewise seeing a downside flood. The volume to market cap proportion of the FTM suggests a bullish pattern in cost for the future. One can put resources into Fantom according to their requirements and hazard limit.

FTM Coin Price Might Breach To Lower Support Level

The weekly technical chart of the FTM hints towards a downside momentum in the price for upcoming days. The asset is on a continuous downtrend for quite a while. Fantom coin price has formed a strong bearish engulfing pattern in the daily technical chart. The upside trend of FTM might see a halt near the value of $1.2. Meanwhile, on the downside, the bounceback of the asset can be seen near $1.8. It is currently trading below the 50 and 100 Daily Moving average, with a negative crossover in the asset price. If the coin price jumps 20% above the current level then a strong bullish trend can be seen in the future. FTM/BTC pairs can also observe a new high in the future.

Conclusion

FTM coin price has been in a downside trend but can soon revert to a new high in the future. FTM/BTC pair can also observe similar gains in the future. One should do their due diligence before investing in the Fantom

Technical Level

Major Resistance:$2
Major Support:$1.2

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