- Fantom Coin has been performing well for the past few days, with a 27% rise in price this week.
- The FTM coin is looking above the green zone of the Super Trend indicator.
- The market cap of FTM coin has increased by 14% to $830 million in the last 24 hours.
Most of the altcoins started moving higher as the entire cryptocurrency market attempts a recovery after a dramatic drop. Similarly, Fantom Coin shows a slight correction in its price after recording a 10-month low of $0.1961 mark. In the form of buyers, the accumulation area recently underperformed.
FTM price traded near the 4-week high of $0.3174 near the 4-week high of $0.3174 forming a high-low formation on the daily and hourly price scale. Above this immediate resistance area, the bulls may aim to push the price of the cryptocurrency towards the $0.40 mark.
After 90 days of continue remaining below the red zone of the Super trend Indicator. Buyers’ relief as the following indicator began moving below the FTM price with a green zone (bullish sign). Thus, FTM coin is trading higher at $0.3189 Mark at the time of writing.
Meanwhile, buyers are happy after gaining 25% cost this week. This bullish week may lead further rally of Fantom coin. Meanwhile, the Market Cap of FTM Coin is up 14% at $830 Million in the last 24-hours. In addition, the pair price of FTM along with Bitcoin pair is up 14% at 0.00001466 Satoshis.
90-DMA Turned into Bulls’ Hedge Zone
The Parabolic SAR indicator is showing the current price of the FTM coin during the daily price chart. Amidst the uptrend, the RSI indicator finally moves above the semi-line, and it could approach the highly oversold zone by the end of July.
Conclusion
There is no bullish barrier till the $0.40 mark. Fantom Coin may struggle near this area but for now the bulls have a chance to dominate the FTM price. Also technical indicators show bullish momentum in crypto.
Technical Levels
Resistance level- $0.50 and $1.0
Support level- $0.20 and $0.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.