FTM Technical Analysis: Price Seen to Have Bounced from the Support at $2.52 in the Previous Week to Start an Uptrend
Let us look at the technical analysis of FTM.
Past Performance of Fantom
On November 2, 2021, the FTM coin opened at $2.70. The latter part of the week witnessed an increase in the price, after which, FTM closed at $3.16 on November 8, 2021. Thus, the week witnessed a positive change of 17.03%.
FTM Technical Analysis
The price can be seen to have bounced from the support at $2.52 in the previous week to start an uptrend. Currently, FTM is trading at $3.07, which is 2.87% down as compared to the previous day’s close. This is a bearish signal, which is conflicting with the ongoing uptrend. Let us see what the oscillators show.
The OBV is showing a more or less horizontal line. This means that the buying and selling volumes are fairly balanced. Thus, they have very little influence over the price of FTM.
The RSI graph is also showing subtle movements, indicating that a significant change is unlikely to occur. It is currently at 62.52%.
The MACD is graph is showing a divergence here. This is because the price chart’s movement is on an incline, whereas MACD is moving on a decline. This is a strong bullish signal. Also, a bullish crossover is about to take place as the fast line is moving closer to the slow line.
KCS has now opened the mainnet deposit and withdrawal services for Fantom Token (FTM). Users can check the Assets > Main Account > Deposit / Withdrawal page and select the FTM Network for transactions.
Day-Ahead and Tomorrow
The FTM traders can hold their current positions as the OBV and RSI as showing neutral signals. However, following the MACD’s signals, they can keep the target at $4. Meanwhile, they can keep the stop-loss at $2.89.
The Fib numbers are showing that the pivot at $3.07 is being tested currently.
