December 5, 2022

Rate Analysis: Fantom And Cosmos Extremely Bullish With Prices Parked Above The 200-SMA

2 min read

Price Analysis: Fantom And Cosmos Extremely Bullish With Prices Parked Above The 200-sma

The cryptocurrency market has actually stayed steady over the last couple of days. The marketplace movers such as Bitcoin and Ethereum have also increased in their charts. But they have actually likewise gone through resistance at their critical rate ceilings. Many altcoins have actually followed the very same course, and some have witnessed remarkable development in the last couple of days.

Fantom/FTM/USD Four Hour Chart

Price Analysis: Fantom And Cosmos Extremely Bullish With Prices Parked Above The 200-sma

Fantom propelled considerably in the previous week so that FTM stood above the 200-SMA line, suggesting severe bullishness. At press time, the coin was trading for$1.73 after registering more than a 10 %gain in market price in

the last 24 hours. As Fantom continued its northbound journey, the coin has now made $1.28 its robust support level. The technicals of the coin continued to signal at a growing bullish cost momentum. With an ongoing recovery in the market, the coin can again keep in mind significant price upliftment at the end of this year.

The cost of Fantom was above the 20-50-200 SMA lines, a reading that symbolizes a severe bullish force in the marketplace. The Relative Strength Index was positioned above the 75-mark, indicating an overbought possession.

Directional Movement Index agreed the bulls, which implied that the market purchasers drove rates. With continuous upward movement, FTM may close at the $2 mark by the end of the month.

ATOM/USD Four Hour Chart

Price Analysis: Fantom And Cosmos Extremely Bullish With Prices Parked Above The 200-sma

COSMOS was priced at $27.15 after it rocketed by 10.2 % in the last 24 hours. The digital currency’s rates stood above the 200-SMA line, suggesting a strong bullish impact. The immediate assistance level was at $25.64, going beneath which the coin may stop at $22.25.

Although it soared significantly, COSMOS had experienced a strong resistance at $30.76. A constant push from the bulls might cause ATOM to fall over the $30.76 mark.

The rate of COSMOSwas above the 20-50-200 SMA line, which once again suggested that the coin was on a bullish run. The Relative Strength Index was misestimated as the indicator was above the 75-mark, regardless of noting a downfall. The continued surplus of buyers might assist ATOM get past its instant resistance. On Balance Volume likewise suggested that purchasing strength was high in the market.

The post Price Analysis: Fantom And Cosmos Extremely Bullish With Prices Parked Above The 200-SMA appeared initially on CoinGape.