FTM/USD Bulls Season Has Begun

It was a long struggle between demand and supply of the Fantom market and it lasted from the 19th of October to the 25th of October. The sideway-ranging price is what ended the downtrend which started on the 12th of August and at the price level of $0.402. Now the price is determined to retrace and break that same $0.402 price level from where it was knocked into a downtrend. The recent three consecutive candlestick pattern on the chart portrays the determination of the buying pressure to hit the $0.402 price level.

Fantom Market Price Statistic:

• FTM/USD price now: $0.3008
•  FTM/USD market cap: $736,112,134
•  FTM/USD circulating supply: 2.55B
•  FTM/USD total supply: 2,545,006,273
•  FTM/USD coin market ranking: #64

Key Levels

• Resistance: $0.35, $0.300, $0.400
• Support: $0.250, $0.225, $0.2000

Fantom Market Price Analysis: The Indicators’ Point of View

The bullish recovery that brought the price to the current price was launched on the 25th of October at the $0.200 support price level. But due to the selling pressure, the bullish price struggled to reach $0.250 on the 31st of October and then strong resistance made the price retrace a lower price level. However, as the buying pressure continues to gather momentum, another support price level was formed at $0.2197. And then we see the bullish strong move. The three consecutive green candles hold a strong significance for a bullish market. In response to this, the Bollinger band is following the price action in its upward performance. The Bollinger price channel will change to an upward direction because the upper band is more active in movement than the lower band.

FTM/USD 4-Hour Chart Outlook

 The Fantom market for yesterday’s trading session was a tug-of-war for bulls and bears. And it was because the price of the market approached the $0.2800 price level. This is where the bears have formed their resistance. As the trading session was coming to a close yesterday, bulls began to gain the upper hand. And the price broke out today as the session opens. The first three sessions have been bullish. However, because the price has gone into the overbought territory, we see a price retracement in the market.

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