Drops

Fantom

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fantom-price-drops-20-in-24-hours/" data-wpel-link="internal">Fantom Price Drops 20% in 24 Hours</a> 
Fantom price dropped 20% in the last 24 hours amid a broader market decline. At the time of writing, the <a href="https://en.coin-turk.com/bitcoin-continues-to-find-buyers-above-42000-worldcoin-stands-out-positively/" data-wpel-link="internal">altcoin</a> is trading at $0.29, a low last observed in October 2023. FTM’s recent price drop has caused losses for many investors, with less profitable trades in the spot market and an increase in long liquidations in the futures market. 
<h2 class="p1" style="text-align: justify" id="what-is-happening-with-ftm">What is Happening with FTM?</h2> 
FTM’s daily on-chain transaction volume profit/loss ratio shows that asset holders have seen more losses than profits in the last 24 hours. At the time of writing, the <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> value was recorded at 0.07. This data measures the total volume of FTM transactions and results in a profit compared to the total daily on-chain transaction volume for the sender. At 0.07, it indicates that for every transaction resulting in a loss today, only 0.07 transactions were profitable. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377073 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ftm.webp" alt="" width="2048" height="693"> 
Currently, 80,000 wallet addresses, representing 72% of all holders, are out of the money. According to IntoTheBlock data, an address is considered out of the money if the current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market price</a> of an asset is lower than the average cost at which the address acquired the tokens it currently holds. Conversely, only 23,000 addresses, representing 23% of all FTM holders, continue to hold assets with a profit. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377072 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ftm-veri.webp" alt="" width="2432" height="798"> 
Futures investors of the asset are also not escaping losses. According to Coinglass data, several long positions were liquidated in the last 24 hours. As of the date of writing, this amounts to a total of $2.16 million, representing the highest single-day long liquidation in two months for the asset. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377071 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ftm-liq.webp" alt="" width="2048" height="574"> 
<h2 class="p1" style="text-align: justify" id="ftm-chart-analysis">FTM Chart Analysis</h2> 
When evaluated on a daily chart, FTM’s key technical indicators point to the likelihood of further price declines. For example, the asset’s Elder-Ray Index indicates a significant bearish trend. At the time of writing, the indicator’s value was recorded at -0.19. The Elder-Ray Index measures the strength between buyers and sellers in the market. When its value is below zero, it indicates that bear power is dominant in the market. 
Additionally, FTM is trading below its 20-day exponential moving average (EMA), indicating a decline in buying activity. The 20-day EMA measures an asset’s average price over the last 20 days. When an asset’s price falls below this, it indicates an increase in selling pressure. If FTM continues this trend, its value could drop to $0.25. However, if it witnesses a trend correction and demand increases, this could push its price towards the $0.48 level. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-377070 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ftm-grafik.webp" alt="" width="2048" height="961"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/fantom-price-drops-20-in-24-hours/" data-wpel-link="internal">Fantom Price Drops 20% in 24 Hours</a></h5>
The post <a href="https://en.coin-turk.com/fantom-price-drops-20-in-24-hours/" data-wpel-link="internal">Fantom Price Drops 20% in 24 Hours</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Fantom Price Drops 20% in 24 Hours

Table of Contents

COINTURK NEWS

Other articles published on Aug 5, 2024

U.S. Unemployment Rate Climbs for Fourth Month—Is the Labor Market at Risk?

Unpacking Bitcoin’s fortunes: $44K in August before ATH in September?

From $49K to $54.6K in an Hour: Bitcoin ETF Saves The Day!

Coinbase Demands SEC Release Gary Gensler’s Private Emails in New Court Motion

Pump.fun's High Failure Rate Revealed: 98.6% of Memecoins Never Launch

Ethereum Picks Up Speed as Bitcoin Eyes Recovery Toward $60K: Here’s the Next ETH Price Trend

Join our free newsletter for daily crypto updates!