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Thursday, October 6, 2022
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    HomeAltcoinFTM Price Prediction: Bounce Back Toward 200-EMA At $1.66 On The Cards,...

    FTM Price Prediction: Bounce Back Toward 200-EMA At $1.66 On The Cards, Is downside over?

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    FTM price treads water on weekends because it strikes sideways with no significant value motion. The present value motion suggests sellers look exhausted and search for some assist. Fantom is the 29th largest cryptocurrency by market cap however it’s comprised of a really compelling know-how and a rising ecosystem.

    • FTM value trades with a modest achieve on Saturday.
    • Anticipate extra falls if the worth breaks under the weekly shut of $1.14.
    • Fantom fell 30% over the previous week.

    As of publication time, FTM/USD is buying and selling at $1.20, up 0.53% for the day.

    FTM value trades close to very long time assist degree

    Supply: Buying and selling View

    On the every day chart, the FTM value is hovering close to the long-term assist degree with lesser volumes. FTM has dropped almost 65% from January highs of $3.37.

    FTM value may bounce again from the present ranges as prior to now it recorded a soar of 45% when retreated from a file excessive of $3.48 made on October 28.

    On the identical line, FTM costs will face many upside hurdles attempting to interrupt the descending pattern line in an effort to maneuver greater.

    The primary rapid resistance is positioned on the important 200-EMA (Exponential Transferring Common) at $1.66. Subsequent, bulls will take out the 50-day EMA of $1.96.

    A sustained shopping for stress will try to shut above the bearish slopping line with the goal of $2.0. Subsequent, market individuals make an try to take out the horizontal $2.50 horizontal resistance line.

    On the flip aspect, a every day shut under the $1.20 will set off a recent spherical of promoting within the asset. With greater than common quantity traders may revisit the lows of September 22 at $0.97.

    Technical indicators:

    RSI: The every day Relative Power Index produces bullish divergence since February 23, which may end in a brief time period bounce again in value.

    MACD: The Transferring Common Convergence Divergence trades under the midline from January 24 with a detrimental bias.

     

    Disclaimer

    The introduced content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.

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