Fantom Price Prediction 2022: FTM Coin is Getting Ready for the Marking New All-time High

• Fantom Coin started their journey for the fresh run by indicating 19.60% up in the intraday session.
• Fantom Coin has broken 20,50,100, and 200 Moving Averages in the daily time period.
• FTM/BTC pair price jumped by 17.90% at the level of 0.00006437 BTC.

After hitting an all time high, investors started their favorable profit booking. From there FMT Coin slipped gradually and stopped falling above $1.24 mark. At this level, buyers took interest in buying and then Coin short-up and again evaluated the ATH zone by indicating a rising wedge chart pattern. 

In the 4 hours time frame, the price action of the FTM Coin indicates the Double Bottom formation after breaching down the previous rising wedge pattern. At the time of writing, Coin is exchanging above the neckline of this pattern gives buyers support for a bullish trend.

Today, FTM Coin favors the investors, which is positive by 19.60% at the $2.75 mark. Over the last trading volume was $1.707 billion, which was volatile by 29.59%. The FTM/BTC pair price gained by 17.90% at 0.00006437 BTC. Just like that FTM/ETH pair is cheerful by 15.06% at 0.0008509 ETH. With this, the Volume/ Market Cap ratio of FTM Coin is 0.2431 mark.

Price Action is Indicating Inverse Head and Shoulder pattern

FTM Coin is establishing the inverse head and shoulder pattern in the daily time frame. And currently, the Coin is about to retest its neckline($ 3.17)  in a couple of trading sessions. If FTM breaches this level to the upside, then the new fresh bull run may happen; on the other hand, Coin may face a bit of selling from this level.

Recently, RSI took support on the inclimb trendline, which shows the potential of buyers. RSI is still bullish, and it is at the 61.38 mark. RSI may retest its Overbought zone further. Meanwhile, MACD continues in positive territory, and it generated a bearish crossover while retesting the head and shoulder pattern. But now MACD is trying to turn back on the bullish territory.

Conclusion 

FTM Coin has crossed the 0.618 level ($2.630) on fib retracement, and it is capable of regaining its ATH. For the FTM Coin, the next Fin retracement will be at 1.618 ($4.8690) if it starts trading above its ATH level; if it does not break the ATH, it may retest the $1.2323 level again as support.

Support level – $2.12 and $1.12

Resistance level – $3.48 and $$4.86

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.