FTM/USD Recovers from the Recent Low of $2.1 – Cryptovibes.com – Daily Cryptocurrency and FX News
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Fantom Price Analysis – January 25
The Fantom price is seen recovering from the low of $2.1 as the price rises up by 8.87%.
FTM/USD Market
Key Levels:
Resistance levels: $3.0, $3.2, $3.4
Support levels: $1.8, $1.6, $1.4
FTM/USD is currently changing hands around $2.45 at the time of writing. Today’s trading begins with a slight uptrend in the market as the coin moves to touch the daily high of $2.47. However, traders are anticipating that the current price movement is an indication of the upcoming price rally in the market but the 9-day moving average is crossing below the 21-day moving average.
Fantom Price Analysis: Would FTM Price Move Upside?
According to the daily chart, the Fantom price moves to cross above the 9-day moving average; once this is done, bulls may now face the resistance levels of $3.0, $3.2, and $3.4 respectively.
However, as the technical indicator Relative Strength Index (14) moves to cross above 50-level, FTM/USD can manage to sustain the bullish movement towards the moving averages. Meanwhile, if the coin decides to cross below the lower boundary of the channel, the support levels of $1.8, $1.6, and $1.4 may be visited.
FTM/BTC Market: Price May Consolidates to the Upside
Against Bitcoin, the Fantom price is in a range, and it is currently trading below the 9-day and 21-day moving averages. Now, the bulls may likely push the coin above the moving averages as the technical indicator Relative Strength Index (14) moves toward 60-level.
However, if the bulls succeed in keeping the price towards the upside, the market may likely rise to the resistance level of 7400 SAT and above, but this might not come to play if the 9-day MA crosses below the 21-day MA. However, if the market gains a few more negative moves and falls from the current market value, this could bring the price towards the lower boundary of the channel, staying there may cause the coin to reach the support level of 5400 SAT and below.
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