Accumulation also dropped as a reason. For FTM to register a strong price move, it must continue to trade above the closest support line. If Fantom continues to remain rangebound, then the price of the asset will register another fall before it starts to exhibit a recovery on its chart. Fantom is trading 87% below its all-time high secured in 2021.<\/p>\n
Fantom Price Analysis: One-Day Chart<\/h2>\n![\"Fantom\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/FTMUSD_2023-02-28_23-43-28.png?resize=1816%2C830\")
Fantom was priced at $0.45 on the one-day chart | Source: FTMUSD on TradingView<\/a><\/figcaption><\/figure>\nFTM was trading at $0.45 at the time of writing. Fantom is currently rangebound, with the altcoin trading within a close range that spans between $0.40 and $0.60. Immediate resistance for the altcoin was $0.48; moving above that level can take the asset’s price to $0.52.<\/p>\n
If buying pressure continues to rise on the chart, FTM may break past multiple resistance levels and trade at $0.80 before attempting to touch the dollar mark.<\/p>\n
On the other hand, support for the altcoin was at $0.40 and then at $0.36. Falling below the $0.36 mark will let the bears take over completely. The amount of Fantom traded in the last session declined as sellers dominated at press time.<\/p>\n
Technical Analysis<\/h2>\n![\"Fantom\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/FTMUSD_2023-02-28_23-44-27.png?resize=1816%2C743\")
Fantom displayed a fall in buying strength on the one-day chart | Source: FTMUSD on TradingView<\/a><\/figcaption><\/figure>\nSince the bulls were rejected from the $0.60 level, buying strength has struggled to recover for the past few weeks. The Relative Strength Index fell below the neutral mark, an indication that buyers were fewer in number than sellers.<\/p>\n
For FTM to invalidate the bears, demand for the altcoin needs immediate recovery. On the same note, the FTM price fell below the 20-Simple Moving Average (SMA) line as sellers drove the market’s price momentum.<\/p>\n![\"Fantom\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/FTMUSD_2023-02-28_23-44-50.png?resize=1816%2C743\")
Fantom formed sell signals on the one-day chart | Source: FTMUSD on TradingView<\/a><\/figcaption><\/figure>\nFTM also depicts sell signals on the daily chart regarding falling buying strength. The Moving Average Convergence Divergence displayed red histograms; this reading also meant that sellers might become more active over successive trading sessions.<\/p>\n
FTM was trading at $0.45 at the time of writing. Fantom is currently rangebound, with the altcoin trading within a close range that spans between $0.40 and $0.60. Immediate resistance for the altcoin was $0.48; moving above that level can take the asset’s price to $0.52.<\/p>\n
If buying pressure continues to rise on the chart, FTM may break past multiple resistance levels and trade at $0.80 before attempting to touch the dollar mark.<\/p>\n
On the other hand, support for the altcoin was at $0.40 and then at $0.36. Falling below the $0.36 mark will let the bears take over completely. The amount of Fantom traded in the last session declined as sellers dominated at press time.<\/p>\n
Technical Analysis<\/h2>\nFantom displayed a fall in buying strength on the one-day chart | Source: FTMUSD on TradingView<\/a><\/figcaption><\/figure>\nSince the bulls were rejected from the $0.60 level, buying strength has struggled to recover for the past few weeks. The Relative Strength Index fell below the neutral mark, an indication that buyers were fewer in number than sellers.<\/p>\n
For FTM to invalidate the bears, demand for the altcoin needs immediate recovery. On the same note, the FTM price fell below the 20-Simple Moving Average (SMA) line as sellers drove the market’s price momentum.<\/p>\nFantom formed sell signals on the one-day chart | Source: FTMUSD on TradingView<\/a><\/figcaption><\/figure>\nFTM also depicts sell signals on the daily chart regarding falling buying strength. The Moving Average Convergence Divergence displayed red histograms; this reading also meant that sellers might become more active over successive trading sessions.<\/p>\n
Since the bulls were rejected from the $0.60 level, buying strength has struggled to recover for the past few weeks. The Relative Strength Index fell below the neutral mark, an indication that buyers were fewer in number than sellers.<\/p>\n
For FTM to invalidate the bears, demand for the altcoin needs immediate recovery. On the same note, the FTM price fell below the 20-Simple Moving Average (SMA) line as sellers drove the market’s price momentum.<\/p>\n FTM also depicts sell signals on the daily chart regarding falling buying strength. The Moving Average Convergence Divergence displayed red histograms; this reading also meant that sellers might become more active over successive trading sessions.<\/p>\n