Fantom Looks Oversold; Will FTM Revive?

Fantom Looks Oversold; Will FTM Revive?

FTM price prediction to know the future price possibilities of the coin.FTM Price AnalysisFantom token is also on the verge of a massive fall that could wipe the token from existence. FTM’s market-wide sell-off has brought it to the support levels of 2021, which provided a buying rally to each profit booking in the second half of 2021.

FTM’s return to a similar level indicates few investors are interested in buying this token, causing a free-fall scenario. A 45% decline in a single day without any impending issue shows the fear amongst existing crypto investors.

RSI shows oversold levels below 18, but the sentiment is too weak to induce buying sentiment. Currently, the crypto market includes most of the experimental tokens that could provide a business opportunity for its developers.

As a result of this scenario, lesser impacting crypto projects are being forced out of existence with no invaluable market value. FTM is now worth only $681,737,941, and the only hope investors have is of consolidation near the 2021 support levels indicated by the green line.

Improvement in the market scenario would be vital in bringing any buying sentiment to lesser-known Altcoins. One should refrain from investing currently and not use more than a few percentages of their intended investment. There are indications that the market sentiment may take a few days to bounce back from the current extreme negativity.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ – the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world’s leading cryptocurrencies.

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