Fantom’s Price Vulnerable to Further Losses ?
Fantom’s price has fallen below the crucial support level of the 61.8% Fibonacci Retracement, signaling vulnerability for the altcoin’s value moving forward.
Fantom Investors Could Offload Assets ?
Investors in Fantom may be looking to offload their assets amidst short-term price declines, as active addresses show a high level of profitability amongst holders.
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- Over 25% of participating addresses are in profit, indicating a potential motivation for selling among investors.
- High participation of profitable investors during bearish conditions could lead to profit-taking actions, impacting Fantom’s price negatively.
Resistance Block Resists FTM Price Recovery
Despite attempts to breach the 78.6% Fib retracement level, Fantom’s price failed and dropped below the 61.8% Fib level, hindering potential recovery.
- An expected fall to $0.78 could signify a downtrend for Fantom, with $0.88 representing the upper limit of the resistance block.
- The upper limit has not served as a support floor for nearly two months, making successful closure above it unlikely.
Price Bounce Potential for Fantom ?
If Fantom’s price rebounds from the 50% Fib level, there is a possibility of breaking through $0.88, negating the current bearish trend and opening up opportunities for recovery.
