Are Bulls Ready to Outperform Above $0.500?

FTM price exhibits a rising wedge pattern and is trading above neutrality, replicating the trend reversal on the chart. The technicals are displaying the bullish momentum and replicates the buyers’ accumulation in the recent sessions. Moreover, the correction has ended and fresh pullback was witnessed which led FTM price above the crucial hurdle of $0.300 and buyers are extending the upward move to reach the round mark of $0.500.

FTM price has surpassed the significant moving averages and displayed outperformance on the chart. The price action showcased a trend reversal as the buyers have dominated the battle over the past number of sessions. In the past months, FTM crypto was in a downtrend and produced a death crossover, and finally retested the lows of $0.170. Recently, with the crypto pump, buyers regained strength and flipped the trend in favor of the bulls.

The live price of FTM crypto is $0.3701 with an intraday drop of 4.06%, showing neutrality on the chart. Moreover, the trading volume increased by 15.60% to $188.46 Million. However, the pair of FTM/BTC is at 0.00000897 BTC and the market cap is $649.74 Million. Analysts have maintained a neutral rating and suggest a volatile outlook for the upcoming sessions.

Will FTM Price Succeed to Escape $0.450?

On the daily chart, the FTM price showcased a trend reversal, and buyers are uplifting the gains for the recent sessions. Moreover, the price action reflects the positive outlook, and if bulls succeed in surpassing the immediate hurdle of $0.400, FTM crypto may reach the swing of $0.5000.

The RSI curve stayed above neutrality near 55, showing a negative divergence amid the buyers’ dominance in the past sessions. The MACD indicator showed a bullish crossover and formed green bars on the histogram, suggesting great performance in the following sessions.

FTM on Weekly Chart Exhibits Double Bottom Formation

On the weekly chart, FTM crypto formed a double bottom pattern, leading to a classic W-shaped reversal from the demand zone of $0.2000. Afterward, buyers persisted in scratching the notable moving averages in a single go and tried to surpass the 100-day EMA mark.

Summary

FTM price exhibits a trend reversal and has initiated a rebound from the lows of $0.2000, replicating the buyer accumulation on the chart. Moreover, the price action shows a positive bullish bias and displays higher highs, showcasing the outperformance on the chart.

Technical Levels

Support Levels: $0.3400 and $0.3000

Resistance Levels: $0.4300 and $0.5000

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.

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.