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Most Significant Movers: FTM Down 12% to Start the Weekend, as ATOM Hits 8 Month Low


Biggest Movers: FTM Down 12% to Start the Weekend, as ATOM Hits 8 Month Low

FTM was down by as much as 12% to begin the weekend, as crypto markets were as soon as again under a red wave. ATOM was likewise victim to this wave, being up to its least expensive level given that last August throughout Saturday’s session.

Fantom (FTM)

Fantom (FTM) was down by double digits on Saturday, as bearish pressure continued to send out rates deep into multi-month lows.

Saturday saw FTM/USD succumb to a 3rd successive session, as costs struck an intraday low of $0.786 earlier today.

Today’s low is the most affordable point costs have actually reached given that last September, and comes following a bearish start to the year.

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

Overall, FTM has actually traded lower for 5 of the 6 last months, since taping an all-time high of $3.47 in October.

Looking at the chart, this weak point has actually pressed costs deep into oversold area, which is among the just great indications for staying long-lasting bulls.

Despite FTM stopping working to discover a flooring in current months, ought to this existing level hold company, we might start to see combination, and possibly even reversal in upcoming months.

Cosmos ( ATOM)

FTM was not the only token to be up to multi-month lows to begin the weekend, with universes (ATOM) likewise dropping on Saturday.

Following a peak of $2036 throughout Friday’s session, ATOM/ USD began the weekend by being up to a low of $1896

This bottom was over 5% lower than the other day’s high, and sees rates be up to their least expensive level considering that completion of last August.

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

ATOM is now selling the red for a 2nd successive month, as rates continue to have a hard time to discover a sustainable flooring.

Its latest assistance level of $2163 was broken previously today, as the 14- day RSI continued to likewise lose strength.

Now tracking at the 28 level, relative strength appears to have an interim flooring, and must this hold company, we might see an effort to return to the $21 level.

Which is most likely to have a strong rebound, ATOM or FTM? Let us understand your ideas in the remarks.

Eliman Dambell

Eliman brings a varied perspective to market analysis, having actually worked as a brokerage director, retail trading teacher, and market analyst in Crypto, Stocks and FX.

Bitcoin, Ethereum Technical Analysis: BTC, ETH Remain in the Red, to Start the Weekend

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Bitcoin, Ethereum Technical Analysis: BTC, ETH Remain in the Red, to Start the Weekend

Bitcoin, Ethereum Technical Analysis: BTC, ETH Remain in the Red, to Start the Weekend

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