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June 22, 2024
Market Analysis

Altcoins Stumble Amid Bearish Action! ONDO and FTM Price Poised For a 10% Pullback?

High altcoins proceed to report a consolidated value motion over the previous few days, highlighting a decline within the value motion for these tokens within the crypto market. Furthermore, ETH-based tokens have recorded the best correction this week, indicating growing promoting stress inside the crypto house.

With the cryptocurrency market getting into right into a consolidated section, will the altcoin season expertise a delayed begin? Because the memecoin class has displayed elevated bullish sentiment by recording a constructive value motion because the week began?

Fantom (FTM) Value Information A Bearish Motion!

Regardless of recording a leap of roughly 15% this month, the FTM coin value has recorded a correction of 6.83% over the previous week. Moreover, the altcoin has added 0.61% to its portfolio with a 9.46% leap in its buying and selling quantity over the previous day.

With a buying and selling value of $0.9164, a circulating provide of two,803,634,836 FTM, and a market cap of $2.267 Billion, the Fantom value has secured the 53rd spot on the worldwide crypto market record.

TradingView: FTM/USDT

The Cross EMA 50/200-day helps the value chart within the 1D timeframe, suggesting a bullish affect within the crypto market.

Nevertheless, the MACD shows a relentless flatline in its value chart. Moreover, the averages present a excessive risk of a bearish convergence, suggesting a blended sentiment within the crypto house for the Fantom token.

If the market regains momentum, the Fantom value will put together to check its higher resistance degree of $1 through the upcoming weeks. Conversely, if the bears achieve management over the bulls, the Fantom crypto will plunge towards its help of $0.70.

Ondo (ONDO) Value Motion:

Launched on 18th January 2024 with a buying and selling worth of $0.10, the Ondo value has displayed a powerful bullish value motion. With a return of roughly 675% since its inception and a market cap of $1.740 Billion, the Ondo token has secured the sixtieth place.

TradingView: ONDO/USDT

The Relative Energy Index (RSI) reveals a bearish convergence within the 4H timeframe, highlighting a rise within the selling-over-buying stress within the cryptocurrency market.

If the market experiences elevated bullish sentiment, the ONDO coin value will put together to retest its all-time excessive (ATH) of $1.33 this week and doubtlessly head towards its higher resistance degree of $1.5 within the coming time.

Nevertheless, a rise within the promoting stress might end result within the altcoin plunging towards its help degree of $1.175 through the upcoming weeks.

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