Price Analysis

Fantom(FTM) Price Eye’s at a New ATH In Next 24 Hours, But Will the Market Sentiments Remain Bullish?

Author: Qadir AK

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Author

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Highlights
  • Fantom price flips along crucial levels eyeing another 25% jump to discover new highs beyond the current ATH

  • No doubt a minor retracement may hinder the price rally, yet the bull appear to be pretty strong to overcome the selling pressure

Fantom crypto suddenly rose into fame due to its speed and low cost which fetched more than $7 billion TVL on its platform. Ethereum based AMM & DEX SushiSwap has also launched on the Fantom platform citing its massive adoption.

Currently, the crypto is all set to slice through the current ATH and range towards higher mark.However, the technicals suggest the price to hit much beyond the current ATH at $3.6.

While the price could take a reverse trend on smashing the ATH, yet in the short-term the price remains extremely bullish. The FTM price had adopted a notable downtrend since the early reading hours.

However, since the past couple of hours the price just flipped the bearish trend as it smashed the bottom levels. Currently, the price is testing the crucial resistance levels along the neckline of the formed double bottom pattern.

  • Fantom price is extremely bullish in both short-term and in the long-term with most of the indicators point out towards a strong buy
  • While the RSI is pointing towards a buy signal as it is surging towards the upper limits where-in a flip may be at a little distance
  • The MACD is showcasing a mounted buying pressure which has kept up the momentum of the asset so that the price hovers very close to its ATH
  • However, the ATR which is a volatility indicator manifests a less volatility rate and hence the asset is pretty less risky
  • On the other hand the Bull-Bear power showcases growing strength with the bulls and hence a decent uptrend may continue for the next 24 hours.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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