FTM dropped as much as 12 percent to begin the weekend. This was due to crypto markets being again under red waves. ATOM was also victim to this wave, falling to its lowest level since last August during Saturday’s session.
Fantom (FTM).
Fantom (FTM), which was in double-digits, fell on Saturday as bearish pressure kept prices from plunging to multi-month lows.
Friday’s FTM/USD session saw a third straight fall, with prices hitting an intraday low at $0.786 on Saturday.
Today’s low is the lowest point prices have reached since last September, and comes following a bearish start to the year.
FTM’s overall trading performance has been lower in five of six recent months. Its highest point was $3.47 recorded in October.
This chart clearly shows that prices are now in oversold territory. That is one good sign that bulls will remain long-term.
FTM has not been able to locate a floor for the past few months. However, if this level holds, consolidation and possibly even reverse may be possible in the coming months.
Cosmos (ATOM)
FTM wasn’t the only one to drop to multiple-month lows on the weekend. Also, cosmos (ATOM), also fell Saturday.
Following a peak of $20.36 during Friday’s session, ATOM/USD started the weekend by falling to a low of $18.96.
This bottom was over 5% lower than yesterday’s high, and sees prices fall to their lowest level since the end of last August.
ATOM trades in the red now for a second month consecutive, while prices struggle to find sustainable floors.
The RSI lost strength earlier in the week and broke its most recent support level at $21.63.
At the moment, relative strength is tracking at 28. If this holds, then we may see an attempt by the government to return to the $21 level.
FTM or ATOM? Which one is most likely to experience a strong rebound and which are you more likely to be successful? We’d love to hear your comments.
Credits for the imageShutterstock. Pixabay. Wiki Commons
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