The crypto market has been in a bear cycle for the past few months and making the best investment decisions can be difficult. In this video, we will discuss FORTH crypto price prediction to determine the most likely direction of the FORTH token in the coming months.
What Is FORTH Crypto?
Forth is the governance token of the Ampleforth protocol. This means that holders of FORTH can vote on protocol decisions, earn rewards for participating in Ampleforth’s staking program, and receive a portion of the inflation that is created each day.
The Ampleforth protocol is a decentralized monetary system that aims to stabilize prices by automatically adjusting the supply of FORTH tokens in response to changes in demand. FORTH is hosted on the Ethereum blockchain and has use cases within the Ampleforth ecosystem.
Technical Analysis of FORTH Crypto
The daily timeframe shows that FORTH has been in a downtrend for the past year. The chart shows lower highs and lower lows with a bearish trend line. The price is also trading below the 200 SMA on the daily chart. This shows that the bears are in control of the market. The MACD indicator is bearish as the MACD line is below the signal line. The RSI indicator is also bearish as it is trading below 50 levels.
However, the price has recently broken above the 100 SMA, showing signs of support. Overall, the technical analysis is bearish on FORTH in the short term.
It means that the price of FORTH is likely to continue falling and revisit the all-time lows of $1.98 in the coming months.
Fundamental Analysis of FORTH Crypto
The Ampleforth protocol is a decentralized monetary system that adjusts the supply of FORTH tokens in response to changes in demand. When the demand for FORTH increases, the protocol expands the supply of FORTH to meet this demand. However, when the demand for FORTH decreases, the protocol contracts the supply of FORTH.
This expansion and contraction of the token supply are designed to stabilize prices and prevent large swings in prices. The current circulating supply of FORTH is 8.6 million with a market cap of $41.66M. These values raise concerns about the long-term viability of the Ampleforth protocol. Another concern investors have is the lack of sufficient mechanisms to increase demand for FORTH. These are valid concerns considering the fact that FORTH hit an all-time high of $180.47 on April 2021 and has lost over 80% of its value since then. This can be attributed to the lack of use cases for FORTH and the overall bearishness in the crypto market. The value of forth token is also closely tied to the Ampleforth ecosystem so it’s best to keep an eye on out for related news.
Final Thoughts on FORTH Crypto Price Prediction
The technical analysis is bearish on FORTH in the short term. The price is likely to continue falling and revisit the all-time lows of $1.98 in the coming months. However, the fundamental analysis shows that there are some concerns about the long-term viability of the Ampleforth protocol. Investors should exercise caution before investing in FORTH.