- The RSI line shows a steady decline in its value concerning the FTM token price
- The FTM/BTC pair was trading at 0.00002924 BTC with a gain of 4.92 %
- the 24hr trading volume in the FTM token is $649.5 Million
The incredible rally for the FTM token entered a minor retracement phase after the coin reached a new ATH of $1.9 mark. These short pullbacks can be beneficial for trending coins in order to maintain a long run. The token price showed a drop of 50%, i.e., till the $1 mark, and later tried to take support from it, displaying a strong bullish engulfing candle, suggesting the retracement phase is over.
The EMA’s indicate that the FTM token is showing a bullish trend because the price trades above the crucial EMA’s of 20, 50, 100, and 200. Moreover, the token price has just reclaimed the 20 EMA line, encouraging the market buyers.
The RSI value of 52 indicating a bullish sentiment in the token. However, the RSI line also showed a significant drop in the coin’s price action, suggesting bullish momentum weakness.
The FTM Token Trying To Sustain Above The $1.13 Mark
The FTM token price bounced from the $1 mark on 22nd September, with a morning star candle pattern, and later also managed to break out from the nearest resistance of the $1.15 mark. The price is still trying wavering around above this, trying to obtain proper support from it.
The moving average convergence/divergence indicator (BEARISH) shows the signal and MACD lines are moving below the neutral area (0.00), indicating bearish sentiment. The indicator also displays a bullish crossover between its two lines, respecting the current price action shown in the chart.
Conclusion: from the technical perspective, the overall trend of the FTM token is still bullish, as the price is trying to hold above the $1.13 level. The long traders of this token can mark the $1 level in their chart as the breakdown from this level will suggest more possibility of downtrend fall rather than a short retracement.
Support: $1.13
Resistance: $1.46