FTM/USD Goes Up; Price Sets to Climb $3.0 Resistance – Cryptovibes.com – Daily Cryptocurrency and FX News
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Fantom Price Analysis – January 4
The Fantom price bulls are taking charge of the market as the coin hovers around $2.90 resistance level.
FTM/USD Market
Key Levels:
Resistance levels: $3.4, $3.6, $3.8
Support levels: $2.5, $2.3, $2.1
Based on the current prediction, FTM/USD could climb above $3.00 in the next positive step. The difficult period seems to be over for this crypto as it tries to create a new trend. However, the Fantom price is currently trading at $2.90, although the coin touches the daily high at $3.08 when the market opened during the European session, it could probably retest $2.6 before it rises again.
Fantom Price Analysis: FTM/USD May Gain More Uptrends
It is apparent that a break above $3.0 resistance could encourage more buyers to increase their entries, eventually pushing the price above the upper boundary of the channel to hit the resistance levels of $3.4, $3.6, and $3.8 respectively. On the downside, if the price retreats and break below the 9-day moving average, the sell-off could gain traction with the next focus towards the 21-day moving average.
However, if the above mentioned-support is barrier is broken, the downside pressure may increase while the next support may be located at $2.5, $2.3, and $2.1. The technical indicator Relative Strength Index (14) is already moving within the overbought region, suggesting additional bullish signals.
FTM/BTC Market: Price Keep Moving Upward
When compares with Bitcoin, the Fantom price is keeping the upward movement intact as the price remains well-above the 9-day and 21-day moving averages. Meanwhile, a daily close above the upper boundary of the channel could encourage the bulls to extend the rally towards the resistance level of 7200 SAT and above.
On the other hand, a close below the 9-day moving average could reverse the Fantom price direction towards the daily support at 6000 SAT and a further bearish movement could take the coin to the support level of 5500 SAT and below. Meanwhile, there is a possibility that FTM/USD may continue the bullish trend as the technical indicator Relative Strength Index (14) is seen within the overbought region, suggesting bullish movement.
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