- After breaking the sideways trend’s range, the FTM price has now begun to recover over the daily price chart.
- The technical indicators are bending over the bulls this time.
- The FTM/BTC pair is at 0.00001607 BTC with a gain of 1.47% in it.
The FTM price after breaking the range of sideways trend has now started recovering over the daily price chart. The recovery is relatively little, thus more buyers are required for the coin in order to accelerate the process. If FTM bulls remain consistent their efforts can be visible over the chart.
If the FTM bulls failed to make this recovery successful the bears will make the coin fall to its all time low once again and it will create a tough situation for the bulls to take the coin back into the market. The trading volume is at a gain of 9% which is the only relief factor for the FTM investors currently. If bears made the volume sink then the countdown for the collapse would begin.
The current price for one FTM coin is trading at 0.37 USD with a gain of 3.36% in its market capitalization in the last 24 hrs. The coin has a trading volume of 268 million with a gain of 8.89% in the 24 hrs trading session and has a market cap of 960 million with a gain of 3.36%. The volume market cap ratio is 0.2787.
Short-term Analysis for FTM
A strong uptrend movement can be observed while analyzing the short-term (4 hrs) chart. The trading volume after a considerable gain is still moving below average.
The MACD indicator shows a fresh positive cross which means the buyers line is moving above the sellers signal line along with the rising green histograms, signifies the bullish flow over the hourly chart. The relative strength index supporting the above is climbing continuously and is approaching the overbought. The RSI value is above 65. Well as for now it is not the correct time to enter the market.
Conclusion
The FTM price after breaking the range of the sideways trend has now started recovering over the daily price chart. If the FTM bulls failed to make this recovery successful the bears will make the coin fall to its all-time low once again and If bears made the volume sink then the countdown for the collapse would begin. While the hourly chart is exhibiting strong uptrend, the investors need to be ready for a selling pressure as the RSI is approaching overbought.
Technical levels
Resistance levels: $0.43 and $0.52
Support levels: $0.33 and $0.22
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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.