FTM Down 12% to Start the Weekend, as ATOM Hits 8 Month Low – Market Updates Bitcoin News

FTM was down by as a lot as 12% to begin the weekend, as crypto markets have been as soon as once more beneath a purple wave. ATOM was additionally sufferer to this wave, falling to its lowest stage since final August throughout Saturday’s session.

Fantom (FTM)

Fantom (FTM) was down by double digits on Saturday, as bearish strain continued to ship costs deep into multi-month lows.

Saturday noticed FTM/USD fall for a 3rd consecutive session, as costs hit an intraday low of $0.786 earlier at this time.

In the present day’s low is the bottom level costs have reached since final September, and comes following a bearish begin to the 12 months.

Biggest Movers: FTM Down 12% to Start the Weekend, as ATOM Hits 8 Month Low
FTM/USD – Each day Chart

General, FTM has traded decrease for 5 of the six final months, ever since recording an all-time excessive of $3.47 in October.

Trying on the chart, this weak point has pushed costs deep into oversold territory, which is among the solely good indicators for remaining long-term bulls.

Regardless of FTM failing to discover a ground in current months, ought to this present stage maintain agency, we might start to see consolidation, and probably even reversal in upcoming months.

Cosmos (ATOM)

FTM was not the one token to fall to multi-month lows to begin the weekend, with cosmos (ATOM) additionally dropping on Saturday.

Following a peak of $20.36 throughout Friday’s session, ATOM/USD began the weekend by falling to a low of $18.96.

This backside was over 5% decrease than yesterday’s excessive, and sees costs fall to their lowest stage for the reason that finish of final August.

Biggest Movers: FTM Down 12% to Start the Weekend, as ATOM Hits 8 Month Low
ATOM/USD – Each day Chart

ATOM is now buying and selling within the purple for a second consecutive month, as costs proceed to wrestle to discover a sustainable ground.

Its most up-to-date help stage of $21.63 was damaged earlier this week, because the 14-day RSI continued to additionally lose power.

Now monitoring on the 28 stage, relative power appears to have an interim ground, and will this maintain agency, we may see an try and re-enter the $21 stage.

Which is extra prone to have a robust rebound, ATOM or FTM? Tell us your ideas within the feedback.

Eliman Dambell

Eliman brings a diversified standpoint to market evaluation, having labored as a brokerage director, retail buying and selling educator, and market commentator in Crypto, Shares and FX.

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