https://ift.tt/QGjDgUi (FTM) Breaks Out From 43-Day Resistance Line

Fantom (FTM) has been moving skywards afterward Feb 24 and has broken out from a diagonal resistance level. After all, it has yet to reclaim a serious horizontal resistance level.

FTM has been falling afterward Jan 17, when it captured a strong of $3.37. The descending change led to a bottom of $1.30 on Feb 24. Measuring from the high, this amounted to a drop of 61%. 

The ensuring bounce created a lengthy bottomer wick and served to confirm the $1.35 field as support. The area has been active afterward Oct 2021, so it is a serious level which is expected to provide support.

FTM has been skyward afterward and is approaching the $1.95 resistance area.

Cryptocurrency trader @Altcoinsherpa tweeted a chart of FTM, stating which the $1.20 – $1.45 field is expected to provide support. 

Since the tweet, the cost has realized this level and reboundt.

FTM breaks out

Despite the ongoing hop, technical indicators are not yet bullish. 

While both the MACD and RSI are skyward, the former is negative, and the latter is likewise bebottom 50. Movement atop these levels is required in order for the trend to be vergranted thatyed as bullish. 

Therefore, FTM has to development over the $1.95 resistance field in order for these indicators to cross into bullish territory.

Notwithstanding, the six-hour chart shows which FTM has already broken out from a falling resistance line active afterward the Jan high. This supports the possibility which the rate will reclaim the $1.95 range and continue spiraling. 

If it does, the next closest resistance range would be at $2.35. This is the 0.5 Fib retracement resistance level and a horizontal resistance range.

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