SpiritSwap

Momentum

Fantom (Migrated to Sonic)

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

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