October 3, 2022

FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin

2 min read

FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin

The FTM coin dropped to the $1.28 assistance throughout the pullback, showing a 60%discount rate from the All-Time High of$3.48. However, experiencing strong need pressure from this assistance, the coin started rising once again, trying to end this correction stage. Moreover, the technical chart also reveals a bullish rounding bottom pattern, which would enhance the ongoing rally.

Secret technical points:

  • The FTM rate jumps above the 50 and 100 in the day-to-day amount of time chart
  • The everyday RSI line shows an impressive healing along with crossing the above the neutral zone
  • The 24-hour trading volume in the Fantom coin is $840.3 Million, indicating a 1.7% gain.

FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin Source-Tradingview The last time when we covered an article on Fantom coin on November 24th, this pair challenged the$2.6 resistance with the hope of continuing its rally. However, the extreme selling pressure rejected the price with a night star candle and plugged it back to $2.

In addition, with the assistance of the crypto bloodbath on December 4th, the correction stage extended as the coin breached the support zone near $2 and was up to the $1.27 mark. The coin rate obtained significant assistance from this bottom level, initiating a new rally in its rate. The coin is presently trading at the $2.01 mark and has actually recuperated around 55%.

This recovery rally in the FTM coin managed to reclaim the 20, 50, and 100 EMAs, showing a strong uptrend. The daily Relative Strength Index (61) revealed a straight-up rally approaching the overbought zone.

FTM/USD 4-hour time frame chart

FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin< img class="alignnone"src="https://s3.tradingview.com/snapshots/4/4idfU8t4.png"alt="FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin"width="1942"height= "1104"/ > Source-Tradingview The Fantom coin shows the development of a rounding bottom pattern in the 4-hour amount of time chart. The pattern’s neck line was at the $2 mark, and today the cost has supplied a decisive breakout from this overhead resistance, offering an outstanding long entry opportunity if the price sustains above it.

The conventional pivot level suggests that crypto traders expect the nearest resistance at $2.1, followed by $2.3. And for the opposite end, the assistance levels are $1.9 and $1.75.

The post FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin appeared initially on CoinGape.