Cryptocurrency Q&A
Why is Fantom going down?
Why is Fantom going down?
Martino
Sun Jun 16 2024
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7 answers
1009
Could you possibly explain why Fantom's value seems to be decreasing? I've noticed a significant drop in its price recently and I'm curious as to what might be causing this trend. Is it due to market fluctuations, changes in its fundamental value, or perhaps some external factors? Could you also elaborate on any potential risks or opportunities associated with investing in Fantom at this time? I'd appreciate any insights you could provide.
7 answers
Arianna
Tue Jun 18 2024
The recovery culminated in a daily candlestick close of $0.77, indicating a degree of stability had been restored to the market. This was a positive sign for FTM holders, who had been anxiously watching the price fluctuations.
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Sara
Tue Jun 18 2024
The key factor in the Fantom price recovery was the stability of the underlying Bitcoin (BTC) market. As long as Bitcoin maintains a solid support level and mitigates selling pressure, it provides a solid foundation for altcoins like Fantom to rebound.
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SakuraWhisper
Tue Jun 18 2024
FTM holders can be optimistic about the future of their investments, provided that the overall cryptocurrency market remains stable. With Bitcoin leading the way, there is potential for further growth and recovery in the Fantom market.
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Elena
Tue Jun 18 2024
On Friday, the Fantom market experienced a significant sell-off, pushing its price below the crucial $0.75 daily support level. This sharp decline created a swing low of $0.65, indicating a strong bearish sentiment in the market.
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KimonoGlitter
Tue Jun 18 2024
Despite the initial panic, the Fantom price eventually recovered from its lows, gaining back some of its lost ground. This recovery was remarkable, considering the 18% crash the asset had suffered.
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