September 30, 2022

Fantom Price Analysis: Cup And Handle Pattern May Lead FTM Price To $4.5 Mark?

2 min read

FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin

The parabolic healing in Fantom(FTM) price pumped its rate back to the ATH resistance near$ 3.2. The coin needs face a minor pullback to form the manage part of its cup and manage pattern. Finishing this bullish pattern, the coin rate could rally to newer levels

. Secret technical points:

  • The everyday RSI chart shows a bearish divergence.
  • The intraday trading volume in the FTM coin is $2.8 Billion, showing a 12.79% gain

Source-Tradingview The last time we covered an article on Fantom coin, this pair revealed an excellent recovery charging straight to the All-Time High resistance around $3.12. Nevertheless, the supply pressure throughout the crypto market activated another pullback in its price. This minor dip took support from the$2.2 mark and

right away recuperated to the overhead resistance. This whole structure reveals a cup and deal with pattern in the everyday amount of time chart, supplying an outstanding long trade opportunity. If the rate handles to break out and sustain above this resistance

, the Fibonacci extension suggests the next supply zone for FTM rate is$3.75 and $4.47-$4.5. The everyday Relative Strength Index( 62)reveals a bullish belief for this coin. Nevertheless, the chart also shows a bearish divergence, indicating some weakness on the purchaser’s side. FTM Chart Shows A Double Bottom Pattern In The 4-hour Time Frame Chart Source-Tradingview The FTM coin

is still having a hard time to go beyond the

$3.2 resistance. Thus, the crypto traders looking for a brand-new long position in the coin should wait till they break devoid of this resistance. However, in case the rate declines, the $2.64 and$2.2 support can still bring the bullish rally. The MACD indication reveals the signal and MACD line are moving

above the neutral zone. Nevertheless, the current reversal in rate has triggered a bearish crossover amongst these lines. Resistance levels -$3.75, and $ 4.5 Support levels- $2.64 and$2.2 The post Fantom Price Analysis: Cup And Handle Pattern May Lead FTM Price To$4.5

  • Mark? appeared initially on CoinGape
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