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 the moment.
At present’s low is the bottom level costs have reached since final September, and comes following a bearish begin to the 12 months.
FTM/USD – Day by 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 likely one of the solely good indicators for remaining long-term bulls.
Regardless of FTM failing to discover a ground in latest months, ought to this present stage maintain agency, we could start to see consolidation, and doubtlessly 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 because the finish of final August.
ATOM/USD – Day by day Chart
ATOM is now buying and selling in the purple for a second consecutive month, as costs proceed to battle 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 may this maintain agency, we may see an try to re-enter the $21 stage.
Which is extra prone to have a robust rebound, ATOM or FTM? Tell us your ideas in 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.
Earlier articleBitcoin, Ethereum Technical Evaluation: BTC, ETH Stay in the Pink, to Begin the Weekend
Extra In style NewsIn Case You Missed ItFollowing a Transient Payment Spike, Fuel Costs to Transfer Ethereum Drop 76% in 12 DaysTransaction charges on the Ethereum community are dropping once more after common charges noticed a short spike on April 5 leaping to $43 per switch. 12 days later, common ether charges are near dropping beneath $10 per transaction and median-sized … learn extra.
At present’s Prime Ethereum and Bitcoin Mining Units Proceed to Rake in Income
Argentinian Securities Regulator Launches Innovation Hub to Focus on Regulated Crypto Investments
Fed’s Bullard Needs to Increase Financial institution Price to three.5% by Yr’s Finish, Hints at 75 Foundation Level Price Hike
Digital Ruble ‘A lot Wanted,’ Russia’s Central Financial institution Says, Received’t Delay Testing