FTM coin price breaks below the support trendline of the falling channel indicating a downfall possibility to the $1 mark.

Key technical points:
<ul>
 	<li style="font-weight: 400">FTM coin price approaches the $1 mark</li>
 	<li style="font-weight: 400">FTM coin price breaks below the support trendline</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Fantom is $1.01 Billion, marking a 16% fall. </li>
</ul>
<h2>Past Performance of FTM</h2>
FTM coin price forms a descending channel pattern in the daily chart starting from the rejection at 50-day EMA on 26th January. However, the recent fall of 40% in the last ten days resulted in the fallout of the support trendline and the $1.20 support level. 

<img src="https://s3.tradingview.com/snapshots/b/BSC5KgHY.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/BSC5KgHY/">Tradingview</a>
<h2>FTM Technical Analysis </h2>
FTM coin price action reflects the bears reaching a milestone with the $1.20 fallout indicating a potential fall to the $1 mark. However, if the prices rise back into the channel, the fallout can be considered a fakeout.

The falling 50-day EMA may shortly fall below the 200-day EMA and give a death cross, eventually increasing the bearish attention. Finally, however, a reversal could reach the 200-day EMA.

RSI Indicator: The RSI slope maintains a downtrend and may shortly break below the oversold boundary. Moreover, the 14-day SMA influences bearishness on the hill as it breaks below the 50% mark.

Stochastic RSI Indicator: The K and D lines enter the oversold zone with a bearish alignment showcasing an extended downtrend. However, the possibility of a bullish crossover in the oversold zone increases.

In a nutshell, FTM technical analysis gives a bearish vibe, but the jury is still out on this bearish milestone being a fakeout.
<h2>Upcoming Trend </h2>
FTM coin price might approach the $1 horizontal level if the trend continues below the broken barrier at  $1.20. However, if buyers regain the trend control, the reversal could hit the 200-day EMA above $1.60.

Support Levels: $1 and $0.80

Resistance Levels: $1.4 and $1.6

&nbsp;

FTM Technical Analysis: Trendline Fallout Haunts A Fall To $1 Mark

FTM coin price breaks below the support trendline of the falling channel indicating a downfall possibility to the $1 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

FTM Technical Analysis: Trendline Fallout Haunts A Fall To $1 Mark

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