- The RSI line displays a bearish divergence concerning the FTM coin price
- The FTM/BTC pair was trading at 0.00005477 BTC with a gain of 10.07%
- The 24hr trading volume in the FTM coin is $2.05 Billion, indicating a 24% hike
As mentioned in my previous article on Fantom, the FTM coin showed a double bottom pattern in the 4hr time frame chart. The coin price breached the $2.8 neckline and provided a quick short trade to the $2.6 mark.
The FTM price obtained good support from this level, indicated by a tweezer bottom candle. The crypto trader can expect the price it continues its uptrend if it manages to break out from the previous swing high of $3.4
About the EMAs, the FTM coin is in a strong uptrend, where its price is trading above 20, 50, 100, and 200 EMA lines.
The RSI value of 60 indicates a bullish sentiment in the FTM coin. However, the crypto investors can notice a bearish divergence in its chart, projecting weakness among the market buyers.
The FTM Coin Price Trying To Sustain Above The $2.8
As mentioned above, the FTM coin was obtaining good support from the $2.6 mark. And on October 31st, the price provided a huge bullish engulfing at this support and managed to breach the nearest resistance of $2.8. The coin price is currently trying to sustain above this broken level.
As per the traditional pivot levels, the nearest resistance for FTM price is $2.95, followed by $3.4. In case the price couldn’t sustain above the $2.6 support, the next nearest support would be at the $2.45 mark.
Conclusion: From the technical perspective, the overall trend of the FTM coin is strongly bullish. However, the price is currently going through a retest phase, and with the presence of RSI bearish divergence in its technical chart, only a proper breakout from $3.45 would confirm the continuation of this rally.
Support: $2.8
Resistance: $3.45