Convergence

Fantom

Rise

Divergence

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/will-fantoms-price-break-its-consolidation/" data-wpel-link="internal">Will Fantom’s Price Break Its Consolidation?</a><br></p>
<p style="text-align: justify"><strong>Fantom (FTM)</strong> price has been showing consolidation for a while and it may continue. This is due to the <a href="https://coin-turk.com/binance-smart-chaindeki-yeni-proje-the-secret-network" data-wpel-link="internal">altcoin</a> not showing a strong directional trend for weeks. However, there is currently a buying signal in on-chain metrics, which could help FTM escape from consolidation.</p> 
<h2 id="signs-of-rise-in-ftm">Signs of Rise in FTM</h2> 
<p style="text-align: justify">Fantom’s price trading above $0.63, as supported by the Moving Average Convergence Divergence (MACD), is a good sign that the <strong>altcoin</strong> is safe from further decline. This technical analysis tool measures the relationship between a token’s price and its two moving averages. It provides information about momentum and potential buying or selling signals. The indicator line crossing over the signal line confirms a bullish transition. As these lines converge, this could be the expected outcome.</p> 
<p style="text-align: justify">When this occurs, <strong>Fantom’s</strong> price could become suitable for an increase. Fantom also shows a difference in the price daily active addresses (DAA) indicator. This can be seen as a buying signal suggesting an ideal accumulation zone. This measure evaluates the relationship between a <strong>token’s</strong> price and the number of active addresses transacting on the network. It shows potential discrepancies between market valuation and network usage trends.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-347315 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/fttm.jpg" alt="" width="850" height="288"></p> 
<h2 id="support-line-in-ftm">Support Line in FTM</h2> 
<p style="text-align: justify">A selling signal can be observed when a token’s price rises and participation decreases. Conversely, increasing participation and falling prices, as currently seen in FTM, indicate a buying signal. If investors choose to make the most of this opportunity and prefer to stock up on FTM supply, a recovery could soon be seen. At the time of writing, Fantom’s price was $0.67, maintaining its presence above the $0.63 support line. This support line has been tested several times this year and has remained intact since the beginning of March.</p> 
<p style="text-align: justify">The situation is the same at the resistance block of $0.79 and $0.88. This block has been tested as support and resistance and is generally difficult to breach or overcome. Even if FTM manages to record a rise, the rise will be halted at the lower boundary of the resistance block at $0.79. From that point, it is unclear whether it will breach $0.80 or not. However, if the $0.63 support is broken, <strong>Fantom’s</strong> price could record a significant drop. Falling below $0.55 would invalidate the bullish thesis and could allow FTM to record further losses.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/will-fantoms-price-break-its-consolidation/" data-wpel-link="internal">Will Fantom’s Price Break Its Consolidation?</a></h5>

Will Fantom’s Price Break Its Consolidation?

Table of Contents

COINTURK NEWS

Other articles published on May 3, 2024

Fantom (FTM) Price Correction Concludes as Buy Signals Emerge

Helldivers 2 PC Players Required to Link PSN Account

Dogecoin and Surprise Altcoin Beat Bitcoin!

OP/Bitcoin Pair Soars Over 50%, Sparks Investor Interest

XRP (XRP) Skyrockets as RippleX Feature Enhances Adoption: A Game-Changer in Crypto Sphere

Kelexo (KLXO) Presale Draws Sushiswap (SUSHI) & Theta Network (THETA), Anticipated 20X Returns Sp...

Join our free newsletter for daily crypto updates!