- FTM Token price action continues to make bullish engulfing candlesticks.
- All the crucial Daily EMAs rise higher below the token price providing support to the bull run.
- The pair of FTM/BTC is trading at 0.00002107 BTC with an intraday gain of +20.15%.
FTM coin price action forms continuous bullish engulfing candlesticks in the daily technical chart, indicating increased buying pressure. Moreover, the price has managed to rise above the $1.2 mark as the buying pressure increases.
The rise in buying pressure is evident by the growth of intraday volume above the 20-days volume MA. In Addition, the daily EMAs rise higher in a bullish alignment, projecting a bullish rally.
The FTM Token price trades at $1.31, increasing +15.15% in market capitalization over the past day, suggesting that the price is in a bull run.
FANTOM’s intraday trading volume has risen by 51% due to the increasing buying pressure.
FTM Token’s Rising Channel
FTM token price grows higher inside a rising parallel channel as the price breaks above the $1.20 mark. However, investors may find the dip in price action as a lucrative entry spot with minimum risk and maximum reward.
As per price action, the demand levels for the token are present at $1.20 and $1 marks. In the event of a bullish reversal from either support level, bulls may find resistance at $1.38 or $1.50.
The EMAs in the 4-hour technical chart soar more potent in a bullish configuration with a positive slope that may hold the prices in a bearish attack. However, the incline in volume in the chart indicates a solid bull run.
The RSI indicator precludes a surge in underlying bullish inclinations as to the slope of RSI spikes higher.
The ADX indicator intends an advance in trend momentum.
Conclusion – The FTM token price rises higher with the assistance of the bullish exponential moving averages. Investors may confront entry points near the drops on the 20-period EMA.
Support – $1.20 and $1
Resistance – $1.38 and $1.50