Fantom Price Outlook: FTM Trades Sideways – Here’s Why This Asset is Gaining Immense Traction

The market condition of Fantom (FTM) has recorded unhealthy market movements, representing a nearly 1% price loss in the last 24 hours. Panic erupted in the crypto community despite the Fantom team's effort to recover assets and reimburse affected users.

However, today August 14, 2023, the asset is recovering to reclaim its bullish trend. Its current market value at 04:16 EST is $0.2411, a nearly 1% decline in the last 24 hours.

FTM Price Action

According to TradingView, Fantom has been trading with bearish momentum since July 23. This bearish momentum has been reflected in the nearly 20% 30-day price decline.

Again, the market situation of the coin has made FTM witness a slight price slippage in the past 14 days, with a less than 1% price loss, according to data from CoinGecko.

Despite this price falls, historical data from CoinMarketCap shows that the coin is reviving, as its 24-hour trading volume is up 50% at $33 million. Furthermore, the present FTM's market price also shows a slight price gain of 2% in the past seven days.

Source: TradingView

From the chart above, Fantom trades towards the upper band of the Bollinger indicator, a bullish signal demonstrating a gradual buildup of buying pressure. Also, the Moving Average Convergence Divergence (MACD) is slightly above the signal line with short green histogram bars, demonstrating the weak bullish trend in FTM's market.

The RSI level is currently at 45, in the neutral zone, indicating that the bulls and bears are in equilibrium.The above analysis suggests that Fantom could witness a bullish recovery if buyers mount more pressure before the day ends.

Expert's Review On FTM Price

Here's what experts say about Fantom's (FTM) price in the coming months. Firstly, CoinCodex experts believe FTM will perform well in its short-term market movement before worsening. CoinCodex predicts that the coin will climb 21% to $0.2944 by August 15 and drop to $0.250 by August 20.

On the other hand, DigitalCoinPrice predicted that FTM must overcome its recent challenges to reach a trading value of $0.49.In addition, PricePrediction.net estimated it to be around $0.28. Bitnation had a different perspective, suggesting that FTM could reach $0.3658 by the year's end.

In 2025, Bitnation projected that Fantom's price could rise to $0.8537.DigitalCoinPrice anticipated the cryptocurrency reaching around $0.84, while PricePrediction.net suggested a value of $0.60 in two years. PricePrediction.net took the lead, forecasting a value of $ 3.51 by 2030.

Recent Development Within the Fantom Ecosystem

Below are some ecosystem developments that could influence Fantom's price in the coming days. While Fantom price moves with a slight decline in the broader crypto market, its decline hinges on other ecosystem factors.

Meanwhile, Amazon Web Services (AWS) has introduced a workshop on the Fantom network to educate Web3 developers on crafting decentralized games.

According to an August 10 blog post, individuals keen on acquiring these abilities can engage in the workshop or monitor its progress. The Fantom network's Web3 development workshop will acquaint attendees with essential concepts via Web3 games.

Utilizing AWS's cloud infrastructure, the Web3 development workshop will commence with four labs, eventually expanding to a total of 5 labs. Every lab will lead participants through various stages of crafting a comprehensive Fantom-based game.

Moreover, the labs will be designed to enhance participants' skills progressively. It will allow developers to build games that provide users with immersive and interactive gaming experiences.
Introducing an AWS-backed Web3 development workshop on the Fantom network will likely positively influence the price of FTM.

As developers and participants engage in the workshop to create immersive gaming experiences, it could increase interest, activity, and engagement within the Fantom ecosystem.

This heightened involvement could result in higher demand for FTM tokens, as they are integral to participating in the network's activities and utilizing resources.

Furthermore, collaborations with well-established entities like AWS lend credibility and visibility to Fantom, potentially attracting more investors and enthusiasts to the project.

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