- The RSI line has entered the overbought zone
- The FTM/BTC traded at 0.00003291 BTC, with a gain of 31.5%
- The 24hr trading volume in the FTM coin is 1.53 Billion
The FTM coin showed an incredible rally in its chart with the breakout of the rounding bottom pattern in the daily time frame. If calculated from the $1 neckline, the price has surged almost 0.72 points, providing a 72% gain to the pattern traders. As for now, the price continues to rise higher and higher with no sign of reversal yet.
Moreover, the FTM traders can use the traditional pivot levels in their chart, as it seems the price is respecting those levels, providing them some good SR levels to trade on.
The EMAs indicate a bullish trend in the FTM coin as the price is trading above critical EMAs 20, 50, 100, and 200. Moreover, The coin bulls are charging so strongly that even the fast-20 EMA moves relatively lower to the price.
The RSI value (BULLISH) is 89, indicating a strong bullish sentiment in this coin.
Can The $2 Mark Be A Potential Resistance For FTM Coin?
As the FTM coin is at ATH, so it doesn’t have any proven resistance levels to mark on. However, there are still options to find resistance levels for coins that reach new ATH using Round number psychology. This theory states that Round numbers like 1, 5, 10, 100, etc. attract many traders to believe these levels are crucial for the technical chart. Though this theory is psychological in nature, it has a good track record.
The MACD indicator (BULLISH) shows that the MACD and signal lines are moving higher than the neutral zone, indicating bullish momentum in the coin.
Conclusion: From a technical perspective, the FTM coin’s overall trend is strongly bullish, and as mentioned above, the price is making new ATH one after another. Furthermore, the FTM traders can use those traditional pivot levels and mark the $2 as a potential SR level in this coin.
Support – $1
Resistance – $2
The traditional pivot levels