Fantom price analysis: FTM bulls mark 25 percent gains as price uplifts to $2.95

TL;DR Breakdown

• The Fantom price analysis is bullish for today.
• The nearest support is present at $2.91.
• Next, resistance is present at $3.0.

The Fantom price analysis is highly bullish as a tremendous increase in price has been observed today. An uptrend has been following quite consistently since yesterday, and the price has been traveling in the upward direction quite steadily. The bullish momentum has been strong, and the price has broken above the crucial resistances of $2.60 and $2.88 today. The price is now at the $2.95 level and is expected to move higher in the upcoming days.

FTM/USD 1-day price chart: FTM bulls knock out bears by gaining 25 percent

The 1-day price chart for Fantom price analysis shows the bulls are still dominating the market as the price is on the increase from yesterday. The FTM/USD pair is trading at $2.95, the crypto pair has gained a value of 25 percent over the last 24 hours, and the cryptocurrency is still at a loss of 2.5 percent over the course of the last seven days. The trading volume also shows an increase of 59.8 percent, resulting in market dominance of 0.36 percent. The market cap is also up by more than 22 percent.

The volatility is high for FTM/USD pair as the Bollinger bands are diverging again, the upper limit of the indicator has reached the $3.06 level representing resistance for FTM/USD, and the lower limit has reached the 1.85 mark.

The relative strength index (RSI) is moving at a steep upwards curve almost vertical, indicating the overwhelming buying activity in the market as the score of the indicator has reached index 63.

Fantom price analysis: Recent developments and further technical indications

The 4-hour Fantom price analysis shows the price action has been in the upwards direction for the last 28 hours, and as no bearish activity has been seen in between so FTM may correct a bit before breaking above the $3 resistance, as the price is already in the higher range, and selling pressure will be high at this point. Furthermore, bulls might also be exhausted after rallying high since yesterday.

The volatility is increasing at a large scale on the 4-hour chart as the Bollinger bands are diverging steeply, with the upper band reaching the $2.88 mark now representing support for FTM/USD, and the lower band has reached the $2.0 mark. The moving average has also traveled high and is currently trading at $2.61, while the FTM is touching the overbought range as the RSI score has reached index 70 and sill soon enter the overbought range as the price increase further.

Fantom price analysis: Conclusion

The Fantom price analysis reveals the coin is highly bullish today after rallying high yesterday. The bullish momentum is quite strong as the FTM has emerged as the highest gainer in the market today. We expect FTM/USD to break above $3.0 later today after correcting for some hours in between.

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