FTM/USD is currently priced at $0.19 and has increased by 4.24% over the past day
The trading volumes have increased by 12.94% over the past day
The technical indicators suggest a positive outlook for the near term.
Short Term View: FTM price action leaves bulls yearning for more
The Fantom price today is $0.190002 USD with a 24-hour trading volume of $55,935,252 USD. Fantom is up 4.24% in the last 24 hours. The trading volumes have increased over the past day whereas the Volume to Market cap ratio stands at 0.1157 for the altcoin.
The FTM bulls have taken a measured step and have been successful in altering the course of the altcoin. The bears have gone into hiding which has significantly reduced the selling pressure in the market, thus resulting in FTM Price moving above the 20,50 SMA on the four hour chart. The resumption of the uptrend would enable the bulls to target the resistance level located at $0.25 in the coming days. On the other hand, the support for the asset resides at $0.15, breaching which could bring the sellers back into the market and bring the uptrend to a screeching halt.
Long Term View for Fantom
The technical indicators for FTM reinforce the bullish belief as the RSI has climbed above the 14-day average line and is currently transacting at 47.02. To make matters worse for the bears, there has been the development of a bullish crossover two days ago due to the huge influx of buyers in the market. The MACD and signal lines are also moving towards the positive territory rapidly which is also a positive indicator for the FTM investors.
Conclusion
FTM bulls have made merry in the market amid a lack of initiative shown by the bears. The outlook presented by the bulls is one of optimism as the Fantom bulls look to go from strength to strength.
Support: $0.17-$0.15
Resistance: $0.20-$0.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/01/ftm-price-analysis-fantom-bulls-capitalize-on-the-gaping-hole-left-by-the-bears/