Flat Trading and Lowering Prices For FTM, Crypto Winter?

Fantom (FTM) is currently ranked 43rd on CoinMarketCap’s list after its market cap, together with its price, experiences a $2.41% drop over the last 24 hours.

This puts FTM right behind Tezos (XTZ) in the 42nd position and in front of THORChain (RUNE) in the 44th position.

As things stand, FTM’s price is at $0.932, which translates to about 0.00002434 Bitcoin (BTC) and 0.0003291 Ethereum (ETH). The highest price reached by FTM in the last 24 hours was $1.02.

Over the last week, FTM saw a 14.33% drop in price, this has taken the market cap of the coin down to $2,448,725,405.

When looking at FTM’s trading volume in the last 24 hours the coin moved to over $33 miliion. This is a 6.87% increase from yesterday’s numbers. However, the trading activity for Fantom is still relatively low compared to what it was at the beginning of this year.

Looking at the above daily chart for FTM/USD, FTM has been in a bearish cycle since the beginning of the year. During this period there was also a significant amount of trading volume, arguably the most the coin has ever seen. Since then, it seems the trading activity has died off and become quite flat.

Given the gradient of the bollinger bands, the position of the 15 EMA with respect to the 50 EMA, and the low daily trading volume, it’s fair to say that the trading volume for FTM will remain flat and its price on a downwards slope for the foreseeable future.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.