Fantom price faced a rejection to fall nearly 30% as a breakout proved premature. FTM could drop 25% to provide another buying opportunity around $0.6467 as broader markets dump. Invalidation of the bearish thesis would occur upon a break and close above $1.2350. Fantom price was not an exception on Tuesday, dumping alongside the rest of the cryptocurrency market.
6467 before the bulls pounce at FTM again. Multiple technical indicators support the odds for further downside momentum, starting with the nose-diving Relative Strength Index that showed falling buyer momentum. The volume indicator is also in the red, a sign of a growing bearish sentiment. If the $0.6467 support fails to hold, the Fantom price could test the supply zone that extends from $0.4597 to $0.6081. A break and close below its midline of $0.
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