SpiritSwap

Momentum

Fantom

Coin

<ul class="news-points"> 
 <li>FTM’s bullish run falters as SpiritSwap closure triggers caution.</li> 
 <li>The RSI and MACD trends signal a potential short-term downside for FTM.</li> 
 <li>Oversold Stochastic RSI hints at FTM price reversal risk loom.</li> 
</ul> 
Bullish momentum in the <a href="https://coinedition.com/tag/fantom-ftm/" rel="noopener noreferrer nofollow">Fantom (FTM)</a> market has waned as bulls paused due to resistance at the intraday high of $0.241.&nbsp; This pessimism is fueled, in part, by the closure of SpiritSwap, a decentralized exchange (DEX) based on the Fantom Opera Chain. 
As a result, bears drove the FTM price down to a 24-hour low of $0.234 before finding support.&nbsp; FTM was trading at $0.2355 at the time of publication, with a slight recovery as buyers stepped in to take advantage of the dip. 
During the period of pessimism, FTM’s market capitalization and 24-hour trading volume fell by 1.29% and 2.32%, respectively, to $659,867,741 and $41,715,073.&nbsp; This drop in market capitalization and trading volume reflects investors’ and traders’ cautious reaction to the DEX’s closure. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
 <img decoding="async" width="706" height="554" src="https://coinedition.com/wp-content/uploads/2023/08/FTM-1.png" alt="" class="wp-image-327669" srcset="https://coinedition.com/wp-content/uploads/2023/08/FTM-1.png 706w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-300x235.png 300w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-223x175.png 223w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-380x298.png 380w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-500x392.png 500w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-89x70.png 89w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-113x89.png 113w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-182x143.png 182w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-567x445.png 567w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-315x247.png 315w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-306x240.png 306w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-210x165.png 210w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-269x211.png 269w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-236x185.png 236w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-103x81.png 103w, https://coinedition.com/wp-content/uploads/2023/08/FTM-1-96x75.png 96w" sizes="(max-width: 706px) 100vw, 706px"> 
 <figcaption class="wp-element-caption"> FTM/USD 24-hour price chart (source: <a href="https://coinmarketcap.com/currencies/fantom/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>) 
 </figcaption> 
 </figure> 
</div> 
With the Relative Strength Index (RSI) moving south and below its signal line on the FTMUSD 1-hour price chart at 42.98, it suggests that FTM may have mor… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/bearish-momentum-grips-ftm-market-will-bulls-stage-a-rally/">Bearish Momentum Grips FTM Market: Will Bulls Stage a Rally?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Bearish Momentum Grips FTM Market: Will Bulls Stage a Rally?

Coin Edition

Other articles published on Aug 10, 2023

Virtual World And Game-Based Altcoin Unlock Approaching! How Will The Price Be Affected?

This Altcoin Listed On Binance Announces Airdrop Program! 2 Billion Tokens Will Be Distributed!

Tether’s BTC holdings questioned in CryptoQuant’s whale analysis

Komunitas USTC Akan Bakar 800 Juta Token, Repeg Jadi Tujuan

Mega Dice Launches The World’s First Licensed Crypto Casino on Telegram – 200% Bonus on Initial D...

Bakkt Reports Second Quarter 2023 Results

Join our free newsletter for daily crypto updates!