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- Fantom Price is drawing its fourth consecutive bullish candle on the daily price scale.
- The buyers manage to keep the crypto price above the 100-day moving average.
- The market capitalization increased by 10% to $607.4 million in the last 24 hours.
Fantom price trend against USDT grabbed by the buyers after a long struggle. Nowadays the bulls are trying to make a healthy rise in FTM coins. Cryptocurrencies were fueled by positivity earlier this week as the price of Bitcoin (BTC) climbed above $16K. So many other altcoins are going up.
Amid downtrends, the price of FTM crypto forms lower-low and lower-low formations in each time frame. The bulls are battling the selling pressure while the bears are trading below the resistance trendline in their asset values. After reaching the yearly low, buyers try to overcome selling as soon as possible.
Against the USDT pair, Fantom price bids at $0.2386 mark under the press time. Crypto Price is constantly drawing the fourth bullish candle on the daily price scale. Thus the market capitalization increased 10% in the last 24 hours, reported at $607.4 Million. Thus buyers are expecting more growth in FTM until the resistance trendline.
In the last three trading sessions, speculators witnessed a highly volatile market. Meanwhile, trading volume reported at $186.7 Million as per yesterday’s data. Amid recovery, Buyers manage to hold crypto costs above 100 day moving average in the context of daily price scale.
On the daily basis chart, the Relative Strength Index (RSI) is moving towards the door of the overbought region. At that point, the RSI peak remained at 65, suggesting more bullish momentum. Besides, the MACD is extending higher and both the moving lines are about to break out of the negative zone soon.
conclusion
Fantom Coin (FTM) is slowly moving towards a downsloping trendline. Buyers need to propel crypto price above this resistance area as soon as possible. Now the 200 day moving average is seen as the next resistance.
Support level – $0.20 and $0.150
Resistance level – $0.30 and $0.450
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
