- FTM is following the upward trend with steady upward momentum.
- The current price of the FTM is around $0.516 with a gain of 14.63% during the last intraday trading session
- The par of FTM/BTC is 0.00002316 BTC with a rise of 11.67% in the last 24 hours
Fantom is regaining its momentum back as trading in the consolidation phase the FTM has now broken through the consolidation phase. Now it appears that the coin has started to follow the upward curve over the daily price chart. The investors also seem interested in the coin the coin may grow to its full potential as the coin has already lost a lot of its potential in the financial year 2022.
The current price of Fantom is surfing around $0.516 with a rise of 14.63% in the last 24 hours. The increasing price of the coin clearly indicates the bullish dominance over the coin. The bears are also trying to influence the FTM’s market to bring some dips over the daily price chart. The coin is still growing under the bullish dominance the coin’s price may rise upto the primary resistance of $0.6289 and if the bullish dominance persists then the coin may reach upto the secondary resistance of $0.8579
The approach of the bears to influence the market of FTM would affect the price of the coin resulting in the coin dropping to the primary support of $0.1690 as the coin reviving it could probably bounce back approaching its all-time low which may lead to the price to reach the secondary resistance of $0.0071 The investors are taking interest in FTM after its rapid growth in past few months.
The increase in the volume of the coin during the intraday trading session is around this indicates that the buying has been increasing and the buyers are getting involved in the trade. The coin’s price is moving above the 20,50,100,200 Days of Daily Moving Average.
Technical Analysis of the current market trend of FTM
The technical indicator shows the following: The Relative Strength Index getting reversed from the neutrality. The RSI is moving toward the overbought zone. The current RSI is and the average RSI is The MACD and MACD signal has previously intersected giving a negative crossover. Now the MACD and MACD signals are on the urge to intersect the Upward trend over the coin has brought hope for the investors.
Conclusion
The current FTM market trend is bullish, and the coin’s price has seen a significant rise in the past months now the coin is on a surge to regain its potential. and the coin may see significant growth in the future. Investors looking for a good buying opportunity may consider investing in FTM. The current price of the FTM is around $0.516 with a gain of 14.63% during the last intraday trading session.
Technical Levels-
Resistance level- $0.6289 and $0.8579
Support level- $0.1698 and $0.0071
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/14/famtom-price-analysis-is-ftm-regaining-its-potential/