What Fantom (FTM) Price Drop Means for 50% of Investors

2024-3-22 21:00

Fantom (FTM) price hit the ceiling today as the cryptocurrency has declined by more than 6% in the last 24 hours.

This drawdown is set to leave FTM holders even more distraught since the likely outcome will mean losses for more investors.

Fantom Price Poised for a Correction

Fantom price had a good run this past week, rising by more than 40%, breaching the $1.00 mark and closing at $1.11 on Wednesday. However, by the looks of it, this will be the highest point of the rally as the cryptocurrency has already begun to decline.

At the moment, the altcoin is changing hands at $1.04, testing the local support level of $1.03. This decline will continue down the line as the bullish sentiment is waning.

The recent rise gave rise to profits as well, which can be observed by looking at the network’s realized profits and losses. This indicator measures the last moved price of the asset to the current price to provide an estimate of the market condition.

Spikes on the metric show that over the past week, profits have been running high. This suggests that over the coming days, profit-taking will probably take precedence as investors jump to secure their gains.

Fantom Network Realized Profits. Source: Santiment

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

Additionally, the conviction to act bullish among investors is rather low right now. The reason behind this is that despite the huge recent profits, the larger picture is still bearish. Nearly 50% of all FTM holders are still sitting in losses, and in order to prevent joining this lot, the investors in profit would sell their holdings.

Fantom Investors at Loss. Source: IntoTheBlock

All in all, the impact on Fantom’s price will knock it further down.

FTM Price Prediction: Correction Could Tap This Key Support

Fantom price trading at $1.04 is getting closer to the crucial support of $0.93. The reason that this is important is because it is also the point at which the 50-day Exponential Moving Average (EMA) stands.

FTM/USDT 1-day chart. Source: TradingView

Read More: 9 Best Fantom (FTM) Wallets in 2024

Falling through this level would ascertain short-term losses, which could result in FTM observing a low of $0.84. This would invalidate the bullish thesis, potentially sending the altcoin to $0.80.

The post What Fantom (FTM) Price Drop Means for 50% of Investors appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Fantom (FTM) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.2476
Капитализация $0 Rank 99999
Доступно / Всего 0 FTM

investors price fantom ftm means drop losses

investors price → Результатов: 126


Dogecoin Recovery Hinges on Key On-Chain Indicators as This New Meme Coin Captivates Investors

After a period of sideways trading and declining price action, Dogecoin traders are keeping a close eye on important on-chain and technical developments that could spark the next rally.   Meanwhile, a new gaming-focused meme coin called Meme Kombat has rapidly captured investors’ attention through its innovative utility-driven approach.

2023-11-25 18:30


Фото:

High Volume Gainers: Ordinals and Celestia surge as investors eye innovation in digital assets

Price movements among high-volume tokens over the past 24 hours have seen several tokens outperform Bitcoin and Ethereum, which saw a 0. 45% loss and 0. 05% gain, respectively, by some margin. Leading the pack with remarkable gains, Ordinals (ORDI) and Celestia (TIA) have showcased impressive surges, highlighting the ever-evolving landscape of digital assets.

2023-11-13 14:30


Фото:

Chainlink Has Massive Resistance Ahead, Will The Rally End Soon?

On-chain data shows there is major resistance ahead for Chainlink, a sign that could be troubling for the rally’s sustainability. Only 55% Of Chainlink Investors Are In Profit So Far As explained by an analyst in a post on X, Chainlink is still behind Bitcoin in terms of investor profitability despite the LINK price outperforming BTC in the year so far.

2023-11-8 22:00