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Cryptoknowmics 2022-03-12 09:42:41

FTM Technical Analysis: Trendline Fallout Haunts A Fall To $1 Mark

FTM coin price breaks below the support trendline of the falling channel indicating a downfall possibility to the $1 mark. Key technical points: Secret coin price approaches the $1 mark FTM coin price breaks below the support trendline The 24-hour trading volume of Fantom is $1.01 Billion, marking a 16% fall. Past Performance of FTM FTM coin price forms a descending channel pattern in the daily chart starting from the rejection at 50-day EMA on 26th January. However, the recent fall of 40% in the last ten days resulted in the fallout of the support trendline and the $1.20 support level. Source-Tradingview FTM Technical Analysis FTM coin price action reflects the bears reaching a milestone with the $1.20 fallout indicating a potential fall to the $1 mark. However, if the prices rise back into the channel, the fallout can be considered a fakeout. The falling 50-day EMA may shortly fall below the 200-day EMA and give a death cross, eventually increasing the bearish attention. Finally, however, a reversal could reach the 200-day EMA. RSI Indicator: The RSI slope maintains a downtrend and may shortly break below the oversold boundary. Moreover, the 14-day SMA influences bearishness on the hill as it breaks below the 50% mark. Stochastic RSI Indicator: The K and D lines enter the oversold zone with a bearish alignment showcasing an extended downtrend. However, the possibility of a bullish crossover in the oversold zone increases. In...

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FTM Technical Analysis: Trendline Fallout Haunts A Fall To $1 Mark

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