Key Takeaways
- The FTM price closed the previous day’s trade at $1.37 with a market capitalization of $3.41 billion and a circulating supply of 2.55B FTM
- The asset is currently testing the crucial support levels, where-in the bearish momentum has geared up a little
- With a flip the asset may prevent further loss but the market sentiments are extremely bearish which possess the probability of dragging the price towards lower support
Fantom(FTM) Technical-Analysis for Today: 10 March 2022
The FTM price is swinging within range-bound levels for the past couple of days. Woefully, the asset broke down from the local support and plunged. However, only with a 5% drop, the asset manage to sustain the trembled situation with a consolidation.
The asset may continue to accumulate for some more time to test the lower support close to $1.15 and ignite a notable rebound. The rebound may not be stronger as expected and hence the price may keep swinging in between $1.15 to $1.3 until the end of the day’s trade.
Source: Tradingview
- The FTM coin price is still trading within a huge descending trend and testing the crucial lower support
- The buying volume has mounted tremendous pressure and hence a significant plunge below these levels may be fast approaching
- However, the price is currently utilizing all its resources to stop slicing through the levels which may be possible as the sellers remain passive at the moment
- If the asset manages to trend within the triangle until the day’s close, then a notable flip may be expected
Click here to read detailed technical analysis of Fantom(FTM) coin.
Additional Read: Crypto Technical Analysis of Bitcoin & other trending cryptos.
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