Summary
TLDR: Fantom (FTM) price has dropped by more than 6% in the last 24 hours, causing losses for investors. The recent rally peaked at $1.11 but is now declining to $1.04, with potential support at $0.93. Profit-taking and bearish sentiment are likely to push the price down further, potentially reaching $0.80. Nearly 50% of FTM holders are in losses, leading to more selling pressure.
Key Points
1. Fantom (FTM) price has declined by more than 6% in the last 24 hours, hitting a ceiling and causing losses for investors.
2. The recent rise in Fantom price led to profits, but the bullish sentiment is waning, and profit-taking is expected as investors look to secure their gains.
3. Fantom price is currently at $1.04, testing a local support level of $1.03, and could potentially drop further to $0.93, which is a crucial support level along with the 50-day Exponential Moving Average (EMA).