FTM/USD Faces Downside by Losing 3.24% – Cryptovibes.com – Daily Cryptocurrency and FX News
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Fantom Price Analysis – April 14
The Fantom price may find a halt at $1.12 as the price is down by 3.24% after touching the daily high at $1.22.
FTM/USD Market
Key Levels:
Resistance levels: $1.80, $2.00, $2.20
Support levels: $0.60, $0.58, $0.56
At the time of writing, FTM/USD price remains below the 9-day and 21-day moving averages to find support at the $1.12 level. However, the daily chart reveals that FTM/USD may go lower towards the lower boundary of the channel before rising again. Therefore, if the bears continue to push the market further lower, the immediate support below the $1.10 level may be located. Beneath this, further supports may be found at $0.60, $0.58, and $0.56.
Fantom Price Analysis: FTM Price May Go Lower
As the daily chart reveals, if the buyers can hold the support at $1.15, the Fantom price may begin to climb higher and bulls could locate the immediate resistance above the upper boundary of the channel which is further close to the resistance level of $1.50.
However, crossing above the channel may locate the higher resistance levels at $1.80, $2.00, and $2.20. Meanwhile, the technical indicator Relative Strength Index (14) is crossing below 40-level, which shows that the market may head to the south to continue the bearish movement.
FTM/BTC Market: Price Moves in the Same Direction
Against Bitcoin, the Fantom price is moving within the channel and in as much as the price actions keep moving in the same direction, FTM/BTC will remain perpetually under the 9-day and 21-day moving averages. Meanwhile, bulls need more strong and more consistent resistance to keep the price from the bear-run for the Fantom market.
However, with the current movement in the daily chart, if the price crosses above the upper boundary of the channel, it may likely reach the potential resistance level at 3800 SAT and above. In other words, if the market price slides toward the lower boundary of the channel, it may likely hit the critical support at 2000 SAT and below while the technical indicator Relative Strength Index (14) moves above the 40-level.
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