• Fantom fell 4.71% in the previous day and 23.51% last week

• The dynamic password has been restored in combination at this stage

• Falling below support may open more sales

Fantom FTM/USD suffered from the negative impact of cryptocurrency bearish adjustment. The token fell 4.71% the previous day and 23.51% for the week. At this stage, the FTM trading price is US $0.2905. Despite the negative development trend, Fantom is one of the competitors of Ether, with strong stock fundamentals.

Fantom is a relatively highly scalable and autonomous blockchain technology new project. Blockchain technology is applicable to blockchain technology application software and cryptocurrency. With relatively low transaction fees and high throughput of Fantom Opera, this is one of the fast paced blockchain technologies.

DeFi customers, company application software and developers of Ethernet VM virtual machines are now pouring into the Internet. FTM is the energy of supervision and control responsibilities, but it has not benefited from the improvement of the Internet. Tokens have been at the core of cryptocurrency changes.

FTM fell 91% from its highest level in recent years. The technical market prospect in the short term shows that the sales market will converge under the momentum of soft skin.

FTM shrinks sideways in bear market

From: TradeView

According to the daily curve chart, FTM has been in the horizontal direction. The transaction price of the token is between US $0.2 and US $0.42. This model has been maintained for about four months.

At this stage, FTM is adjusting in the downward trend. The moving averages on the 20th and 50th give friction resistance to the increase. In the case of reversal of development trend, these two mean values may be the resistance point at the tamping point.

RSI is currently 36, the lowest standard since June. Although the index value is close to the oversold area, FTM should get rid of the pressure level of $0.42 and rise. If the reverse occurs, dynamic passwords can be retested at relatively low levels.

Summarise

FTM encountered a strong downward trend, with a weekly decline of more than 23%. The integration time of this token is relatively long. If the support level of US $0.2 cannot be maintained, the token may fall.