Biggest Movers: FTM Down 12% to Start the Weekend, as ATOM Hits 8 Month Low
FTM was down by as a lot as 12% to begin the weekend, as crypto markets had been as soon as once more beneath a pink wave. ATOM was additionally sufferer to this wave, falling to its lowest stage since final August throughout Saturday’s session.
Fantom (FTM) was down by double digits on Saturday, as bearish strain continued to ship costs deep into multi-month lows.
Saturday noticed FTM/USD fall for a 3rd consecutive session, as costs hit an intraday low of $0.786 earlier in the present day.
Today’s low is the bottom level costs have reached since final September, and comes following a bearish begin to the 12 months.
Overall, FTM has traded decrease for 5 of the six final months, ever since recording an all-time excessive of $3.47 in October.
Looking on the chart, this weak spot has pushed costs deep into oversold territory, which is without doubt one of the solely good indicators for remaining long-term bulls.
Despite FTM failing to discover a flooring in latest months, ought to this present stage maintain agency, we might start to see consolidation, and doubtlessly even reversal in upcoming months.
FTM was not the one token to fall to multi-month lows to begin the weekend, with cosmos (ATOM) additionally dropping on Saturday.
Following a peak of $20.36 throughout Friday’s session, ATOM/USD began the weekend by falling to a low of $18.96.
This backside was over 5% decrease than yesterday’s excessive, and sees costs fall to their lowest stage because the finish of final August.
ATOM is now buying and selling within the pink for a second consecutive month, as costs proceed to battle to discover a sustainable flooring.
Its most up-to-date help stage of $21.63 was damaged earlier this week, because the 14-day RSI continued to additionally lose energy.
Now monitoring on the 28 stage, relative energy appears to have an interim flooring, and will this maintain agency, we might see an try and re-enter the $21 stage.
Which is extra prone to have a robust rebound, ATOM or FTM? Let us know your ideas within the feedback.