FTM price escaped the neutral trajectory with flying colors above the $0.4000 mark and has persisted in decisively extending the upward moves. Furthermore, the Fantom coin looks aggressive and intends to claim the immediate swing of $0.5200. The price action signifies the bullish momentum, and the FTM price is riding the gains inside the rising parallel channel. Moreover, the technicals suggest that the FTM coin will continue to expand the rally and reach the $0.6000 mark soon.
FTM coin is trading above the significant moving averages and is displaying bullishness on the chart. Moreover, the FTM price continues to form a higher high swing and demonstrates follow-on buying, which signifies investor interest. Additionally, the Fantom coin has gained traction and stepped up the bull wave for the past sessions. Per the ongoing trend, the FTM price will continue to boost gains and approach the bullish trajectory above $0.5500 in the upcoming sessions.
The live price of FTM coin is $0.4930, with an intraday drop of 4.90%, showing neutrality on the chart. Moreover, the trading volume increased by 10.20% to $ 166.78 Million. However, the pair of FTM/BTC is at 0.0000114 BTC, and the market cap is $863.37 Million. Analysts have maintained a bullish rating, suggesting the outperformance will continue in the following sessions.
FTM on Daily Chart Displays Bullish Trend
On the daily chart, the FTM price showcased a gigantic move and sharply healed from the demand zone of $0.1700 in the recent sessions. Furthermore, the FTM coin has sparked gains of over 200% and is continuing to augment the rally. Amid the positive sentiments, the FTM coin has persisted in furnishing the gains and has been stretching the bullish wave in the past weeks.
The relative strength index (RSI) curve stayed in the overbought zone near 65, showing a neutral projection and suggesting the bullish flow’s continuance. The MACD indicator showed a bearish crossover and formed red bars on the histogram, suggesting that volatility may continue in the following sessions.
Weekly Chart Exhibits Double Bottom Formation
The FTM price reverted from the base on the weekly charts and formed a double bottom pattern. After that, a pullback was witnessed in the recent sessions. Additionally, the bullish crossover was noted, and the FTM coin is stretching gains to claim $0.6000 in the following sessions.
Summary
FTM price has persisted in accumulating the gains and is sustaining in the bullish territory, displaying the bulls’ dominance on the chart. Moreover, the price action favors the bulls and suggests that outperformance will continue in the following sessions.
Technical Levels
Support Levels: $0.4800 and $0.4500
Resistance Levels: $0.5100 and $0.5500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/12/28/ftm-price-prediction-will-ftm-stretch-up-move-toward-0-6000/