Fantom (FTM) Price Correction Concludes as Buy Signals Emerge

2024-5-3 02:59

Fantom (FTM) price has been consolidating for some time now and could continue. This is because the altcoin has not seen any strong directional bias in weeks.

However, a buy signal currently appears on the on-chain metrics, which could help FTM escape consolidation.

Buy Singlas Pop Up for Fantom

Fantom‘s price trading above $0.63 is a good sign that the altcoin is safe from diving further, as supported by the Moving Average Convergence Divergence (MACD). This technical analysis tool measures the relationship between two moving averages of an asset’s price. It provides insight into its momentum and potential buy or sell signals. 

During recovery moments, the indicator line (blue) crosses over the signal line (red), confirming a bullish crossover. This is the expected outcome as these lines are inching closer. Once this happens, the Fantom’s price will be eligible for an increase.

Fantom MACD. Source: TradingView

Fantom also shows a divergence in the price daily active addresses (DAA) indicator. This can be seen as a buy signal, suggesting an ideal accumulation zone.

This metric is used in cryptocurrency analysis to assess the relationship between an asset’s price and the number of active addresses transacting on its network. It indicates potential discrepancies between market valuation and network usage trends.

Whenever the price of an asset rises and participation decreases, a sell signal can be observed. Conversely, increasing participation and declining prices issue a buy signal, which is the case with FTM presently. If investors opt to make the most of this opportunity and stock up on FTM supply, it could see some recovery soon.

Fantom Price DAA Divergence. Source: Santiment FTM Price Prediction: Rebound

At $0.67 at the time of writing, Fantom’s price maintains its presence above the key support of $0.63. This support line has been tested numerous times this year and remained unbroken since early March.

Such is the case with the resistance block of $0.79 and $0.88 as well. This block has been tested as support and resistance and is usually difficult to breach through or below. 

Even if FTM does manage to post a rally in the next few trading sessions, it will halt the rise at $0.79, which is the lower limit of the resistance block. From there on, it is unclear whether to breach $0.80 or fail to do so.

Read More: Fantom (FTM) Price Prediction 2024/2025/2030

Fantom Price Analysis. Source: TradingView

However, if the support of $0.63 is broken, Fantom’s price could note a considerable drawdown. Falling to $0.55 and below would invalidate the bullish thesis, enabling FTM to note further losses.

The post Fantom (FTM) Price Correction Concludes as Buy Signals Emerge appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Burency (BUY) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0014607 (-100%)

buy price fantom emerge signals ftm correction

Источник: beincrypto.com

buy price → Результатов: 126


Is Serum (SRM) a good buy opportunity after a recent sell-off?

Serum SRM/USD remains under pressure; the price of this cryptocurrency fell from $13.95 to $6.7 since 11th September 2021, and the current price stands at $7.33. Technically looking, the risk of further decline still persists, and if you decide to buy this cryptocurrency at the current price, you should use a “stop-loss” order because the […] The post Is Serum (SRM) a good buy opportunity after a recent sell-off? appeared first on Invezz.

2021-10-13 23:33


Фото:

Is now a good time to buy Ethereum?

Ethereum’s (ETH) price is experiencing a pullback towards the $1,103 support level as a result of Bitcoin’s recent dip. But is the second-largest cryptocurrency by market cap a good buy at the moment? Fundamental analysis: whales buying discounted Ether Ethereum’s current fundamental outlook is considered as fairly bullish, especially with more analysts coming out with […] The post Is now a good time to buy Ethereum? appeared first on Invezz.

2021-1-16 22:33


Питер Шифф обрушился с критикой на CEO MicroStrategy из-за инвестиций в биткоин

Биткоин-скептик и сторонник золота Питер Шифф подверг критике решение CEO MicroStrategy Майкла Сэйлора заранее публично заявить о планах покупки криптовалюты на привлеченные компанией $650 млн. Since @michael_saylor made the mistake of publicly announcing his $650 million Bitcoin buy in advance, traders can buy first, pushing up the price of #Bitcoin now so they can sell […]

2020-12-15 08:56


Efficient Market Hypothesis: MicroStrategy’s $650M Bitcoin Buy Has Barely Been Priced In

Bitcoin price is making an attempt to get back over $18,000 after it flirted with the mid-$17,000 range in the overnight hours. The leading cryptocurrency by market cap has only bled further over the last several days since MicroStrategy CEO Michael Saylor revealed his company’s plans to offer convertible senior notes to raise $650 million […]

2020-12-12 04:00


Ripple (XRP) price correction stops at $0.50

Ripple (XRP) price fell to $0. 50, the key short-term support line, today before buyers have emerged to buy the digital asset at a compelling valuation. Fundamental analysis:  Ripple users impatiently await the airdrop after Coinbase announces support The airdrop, which is scheduled to take place on December 12, will be supported by the popular cryptocurrency exchange Coinbase.

2020-12-11 16:52


PayPal’s Recent Love Relationship with Digital Assets Contributes to Positive Price Actions, Says Pantera

On October 21, 2020, PayPal confirmed the launch of a new service that would enable its customers to buy, hold, and sell digital assets directly from their PayPal accounts. The payment behemoth also revealed plans to significantly increase the utility of cryptocurrency by making it a funding source for purchases at 26 million merchant stores […] The post PayPal’s Recent Love Relationship with Digital Assets Contributes to Positive Price Actions, Says Pantera appeared first on NullTX.

2020-12-8 19:04


The Most Profitable Buy Signal In Bitcoin Is About To Trigger Despite Distance From ATH

Bitcoin price this week set a new all-time high price record, taking the leading cryptocurrency by market cap to right below $20,000 before a minor pullback began. And while there is always a possibility that the asset could see a stronger correction given how overheated it is and how profitable the year of 2020 has been, one indicator is pointing to significant upside from here instead.

2020-12-2 18:00


New Bitcoin ATH Coming by the End of This Year, Big Downside Move Just a BTD Opportunity: Nexo Founder

Before the weekend could be here, the crypto market got a buy the dip opportunity as the price of Bitcoin went down to about $16,300 while ETH made it to $480. BTC recovered slightly to $17,265 Billions of dollars have been wiped out from the market as a result of this correction, which the market […] The post New Bitcoin ATH Coming by the End of This Year, Big Downside Move Just a BTD Opportunity: Nexo Founder first appeared on BitcoinExchangeGuide.

2020-11-27 05:27


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Two Reasons Why Fantom (FTM) Price Could Drop By 38%

Amidst a 32. 79% correction and signs of selling pressure, FTM price faces uncertainty. With holder growth stalling and supply rising, we analyze the future direction and potential for recovery or further declines.

Fantom (FTM) Hits Resistance – Can Price Prevent a 20% Drop?

Fantom price has noted a decline, but the altcoin is expected to observe further drawdown owing to this pattern and the investors' bearish moves. The post Fantom (FTM) Hits Resistance – Can Price Prevent a 20% Drop? appeared first on BeInCrypto.