Fantom Technical Analysis: FTM Bullish as Price Rises Above $0.2700

Fantom Past Performance

FTM has maintained a constant price movement from early where bulls and bears have been in a competition to take control of the market where the bulls have shown a positive impression lately as the market is trading around $0.2714 after a steep fall from $1.5267 to 0.2699.

Source: Trading View

FTM Technical Analysis

In the last 24 hrs, FTM has traded as low as $0.2563 and as high as $0.2733. The market capitalization is $860,856,979 and the FTM trading volume is $134,791,536. According to FTM technical analysis, the current price is $0.2711 which is a 5.07% price rise in the last 24 hours. The max supply is 3,175,000,000 Fantom and the circulating supply is 2,545,006,273 FTM .

The RSI or Relative Strength Index is at 47.27 which is a neutral zone. Meanwhile, the RSI line is heading towards the overbought region, which indicates buying pressure in the market. The MACD or Moving Average Convergence Divergence line and the signal line are both close to the zero line.  This is a bullish signal and indicates the price will go up in the future. The Bollinger bands are squeezing, which is a signal that a big move is about to happen. The support levels are $0.2553, $0.2510, and $0.2467 and the resistance levels are $0.2733, $0.2800, and $0.2867.

Out of the 26 technical analyses, 9 show a buying signal, 10 holds, and 7 sell signal. The oscillators show 2 buys and 9 holds while the moving averages show 7 buy signals, 1 hold, and 7 sell signals.

Upcoming Trend

The market is expected to rise in the near future as the technical indicators are giving a buying signal. Investors are advised to buy the dips and hold for the long term. The stop loss should be placed below $0.2553.

Conclusion

From the FTM technical analysis, it can be concluded that Fantom is currently in a bullish trend and the price is expected to go up in the future, hence, the support levels should be watched closely as a break below.