Over the past 24 hours, Fantom (FTM) has experienced a significant drop in prices, falling from a high of $0.3533 to a 30-day low of $0.321. This negative trend has continued, resulting in a 5.68% drop to $0.3293 at press time. The market capitalization of FTM also fell by 5.60% during the bear rally to $918,619,233, while the 24-hour trading volume increased by 280.76% to $252,655,464. It appears that investors are taking advantage of the cheaper pricing to enter the market, but it remains to be seen whether this volume rise will last.
The Aroon down on the FTM/USD 4-hour price chart has moved above the Aroon up, indicating that bears in the FTM market are gaining traction and may continue to drive prices down in the near term. However, the stochastic RSI motion in the oversold range shows that a possible reversal is on the horizon. This, along with the increased trading volume, suggests that buyers are coming in to take advantage of the cheaper pricing.
On the FTM/USD 4-hour price chart, the Keltner Channel bands are moving southward, with the upper, middle, and lower bands touching at $0.3648, $0.3482, and $0.3317, respectively. Since the price movement has slipped below the bottom band, resulting in red candlesticks indicating that the market is oversold, traders may expect a price reversal. The Relative Strength Index in the oversold range verifies the oversold market state, warning traders to be cautious when taking short positions since the market may be ready for a rebound.
Overall, FTM is experiencing a bearish trend with increased trading volume, indicating potential buying opportunities amid oversold conditions. However, readers must do their research and due diligence before taking any action, as the market can be unpredictable. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss resulting from actions taken based on this price prediction.
