FTM Is Pulling Back Before Bullish Trend Continues

Bears may exert more pressure in Fantom Market

When there is an increase in the buyers’ pressure, Fantom may increase to break up $0.26 level and expose the price to $0.27 and $0.28 resistance levels. The price may decrease to $0.22 and $0.23 levels provided the support level of $0.25 does not hold.

Fantom Price Analysis – November 03

FTMUSD Market

Key levels:

Resistance levels: $0.26, $0.27, $0.28

Support levels: $0.25, $0.23, $0.22

FTMUSD Long-term Trend: Bullish

Fantom is on the bullish movement in daily chart. Bulls put hold on the bearish movement at the support level of $0.23 with the formation of strong daily bullish candle that breaks up the resistance levels of $0.23 and $0.25. Buyers’ momentum is increasing more than the sellers’ momentum. The price eventually found resistance at $0.28 Level. The price is pulling back at the moment.

Fantom price is trading above the 9 periods EMA and 21 periods EMA at distance indicate a strong increase in the bulls’ momentum. The relative strength index period 14 is at 68 levels with the signal line pointing upside indicating buy signal.  When there is an increase in the buyers’ pressure, price may increase to break up $0.26 level and expose the price to $0.27 and $0.28 resistance levels. The price may decrease to $0.22 and $0.23 levels provided the support level of $0.25 does not hold.

FTMUSD Medium-term Trend: Bullish

Fantom is on the bullish movement in the medium-term outlook. The bulls started dominating the market when the sellers lose their momentum at the support level of $0.19. The buyers’ pressure push the coin to the resistance level of $0.23 and pulled back to retest the support level of $0.22. Today, bulls are dominating the Fantom market. Price retested $0.28 level, it is currently pulling back.

The 9 periods EMA is crossing the 21 periods EMA to establish a bullish trend. The Relative Strength Index period 14 is at 63 levels and the signal line pointing down which indicate a sell signal. Which may be a pullback.

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