Can Bulls Enter In Market and Lead $1?

Fantom coin’s (FTM) open interest is $44.03 Million. As per Coinglass, another crypto analysis website, it fell by 5.36% in the previous session. The long versus short ratio for 24 hours is 0.8471. The total number of short positions added in the last 24 hours is $69.82 K against longs of $102.33 K.

Fantom crypto surged by 0.98% in market value and plummeted by 30.51% in trading volume in the last 24 hours, as per Coinmarketcap, a crypto data analysis website. Its market value is $566,268,314 and its trading volume is $39,912,263. There are 2,803,347,961 FTM in circulation. The FTM crypto has not performed well in the last month, decreasing by 15.18% and by 49.55% in the last six months. Fantom (BITFINEX: FTM) crypto has a positive year-to-date return of 0.92% and a negative one-year return of 25.96%.

FTM Crypto Price Technical Analysis in the 1-Day Timeframe

FTM crypto price showed a downward trend for the past six months, decreasing by 49.55% during this period and the price fell by making lower lows and highs. 

At the time of publication, the FTM crypto price was trading at $0.20177 and took resistance from the trendline. The price stepped down from 50.00% Fibo levels on May 25th, 2023, and declined drastically. Now to rise above FTM needs to surpass the trendline first which seems difficult as per the current scenario and the market trend will only change upwards when it surpasses the Fibo 38.20% level as a change of character will happen after it jumps this level. 

Therefore,  if it fails to maintain the current level, the FTM crypto price could continue to move downwards and reach the nearest support at $0.19447700 and $0.16586270.

However, if the FTM crypto price sustains the current level and rises, then it might hit the nearest resistance levels of $0.0.22820100 and $0.26396885.

FTM Price Forecast 2023: Can Bulls Enter In Market and Lead $1?
Source: FTM/USD.1D.BITFINEX by TradingView

At the time of publishing, the FTM crypto price (BITFINEX: FTM) is trading below the 20, and 50-day EMAs (exponential moving averages), which are rejecting the FTM crypto price trend. 

The MACD line at 0.00836 and the signal line at 0.009572 are below the zero line. Both lines cross multiple times on each other and each time histogram gap is decreased even further highlighting consolidation in FTM price in the MACD oscillator. The current value of the RSI is 40.07 points and the 14-day SMA is below the median line at 38.33 points, which indicates consolidation to bearish sentiments as the RSI is at the median line in the market for the FTM crypto and highlights neutrality to bearishness.


FTM crypto price prediction highlights the neutral to bearish sentiments and perspectives of investors and traders regarding FTM crypto in the daily time frame. Fantom price action suggests a no view at the time of publishing. Moreover, the technical parameters of the Fantom price suggest the continuation of the consolidation to bearishness over the daily time frame chart. Major reliable indicators RSI, MACD, and EMA, give neutral to bearish signals regarding the FTM crypto price.

Technical Levels:

  • Support levels: The nearest support levels are $0.19447700 and $0.16586270.
  • Resistance levels: The nearest resistance levels are $0.0.22820100 and $0.26396885.

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steve Anderrson
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