Fantom price analysis: FTM bulls mark a whopping 24 percent gain, as price hits a record high at $2.16

Fantom price analysis FTM bulls mark a whopping percent gain as price hits a record high at

TL;DR Breakdown

  • The Fantom price analysis is strongly on the bullish side.
  • The nearest support is present at $2.
  • market sentiment is beyond positive.

The Fantom price analysis shows very strong signs of bullish momentum as the price shoots past $2.16 hitting a new record high for the cryptocurrency. The FTM bulls are leading the charts, discovering new price horizons as they move ahead. The challenging question is how high the token can go after it has crossed the psychological mark of $2. Often referred to as the sleeping giant, the Fantom is enjoying the peak of its bullish swing.

The Fantom started an upward trend from the first week of August, but the FTM/USD price started climbing steeply in late August when a cup and handle formed, and the breakout was upward. After touching the $1.65 mark on 9th September, a downwards price trend was observed till late September, but the sleeping giant is again on the rise from 29th September, and the glorious flight still continues.

FTM/USD 1-day price chart: FTM bulls mark ATH after ATH

The 1-day price chart for Fantom price analysis shows a strong bullish streak going on. Yesterday FTM/USD hit an all-time high at $2.00, and bulls carried their lead successively ahead, hitting another record high at $2.16 at the time of writing. The FTM bulls seem aggressive enough as they move ahead, and a further upside is expected.

Fantom price analysis: FTM bulls mark a whopping 24 percent gain, as price hits a record high at $2.16 1
FTM/USD 1-day price chart. Source: Tradingview

The volatility is quite high as the Bollinger bands started expanding vastly on 6th October, but the price level is still going far above the upper limit of the Bollinger bands, indicating strong bullish momentum and high volatile character of FTM/USD at this point in time, as it continues to hit beyond the limits of the indicator for the third consecutive day.

The relative strength index (RSI) is in the overbought zone at 76 index; the indicator entered the overbought zone yesterday and is still on an upwards curve, indicating intense buying activity of the FTM/USD assets in the market. Looking at the previous record of FTM, the RSI once remained in the overbought zone for 15 consecutive days from 29th August till 12th September, so traders can speculate the buying activity to remain high for the coming time.

The MACD oscillator indicator is strongly bullish, as is exhibited from the dark green color of the histogram and its enlarging bars. The MACD took a bullish crossover on 3rd October but started showing strong bullish characteristics from the past three days, as the EMA12 crossed over above the EMA26 on 6th October.

Fantom price analysis: Recent developments and further technical indications

The 4-hour price chart for Fantom price analysis shows bulls setting the bar higher every hour. during the recent hours FTM/USD pair further improved from $2.11 to $2.16; The bullish momentum is overwhelming beyond assumptions.

Fantom price analysis: FTM bulls mark a whopping 24 percent gain, as price hits a record high at $2.16 2
FTM/USD 4-hour price chart. Source: Tradingview

The volatility is far higher on the 4-hour chart as compared to the daily chart, with the upper Bollinger band at $2.1 below the price level, and the lower band is at $1.07; this shows much high volatility for the current time as price trades beyond the volatility indicator limits. The RSI is also much higher at the moment, with a score of 82, indicating increasing buying activity.

The moving average (MA) during the current hours is at the $1.88 level, the short-term and the mid-term moving averages and the exponential moving average all indicate the bullish trend and favor the buying decisions of FTM/USD assets.

The oscillators, on the other hand, are mostly neutral except the MACD as discussed earlier and the Momentum oscillator, which favors the bullish side and indicates the buying signs.

Rounding off the technical indicators for Fantom price analysis, there are 16 indications towards the buying of FTM assets and only one for selling the FTM assets, out of a total of 26 technical indications available, thus strongly supporting the bullish side; however, nine indicators stand neutral and do not favor either side of the market.

Fantom price analysis: Conclusion

The Fantom price analysis suggests FTM/USD pair is enjoying the record-high position, and still, there is no stopping by as the price is going higher every minute. Through a bird’s eye view on the price charts, the same characteristics of FTM were observed from late August till 9th September. This time, the price increments are steeper, but as last time after hitting ATH, the price maintained a comparatively higher price envelope after correction; traders may expect the FTM price to remain higher than the previous price channel. How high will the FTM price go? This still remains a million-dollar question.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

Related News

Hot Stories

Uniswap price analysis: Bulls take control as prices hit highs of $5.43
XDC Price Prediction 2023-2031: Is XinFin a Good Investment?
Cardano price analysis: Bullish rally drives ADA/USD prices to $0.3156
Solana price analysis: SOL rallies high to $14.68 as bulls mark 10.30 percent gains
Bitcoin, Binance Coin, Shiba Inu, and Tron Daily Price Analyses – 24 November Morning Prediction

Follow Us

Industry News

Another Sign of Danger: 7-year-old 10,000 BTC moved
CZ grilled on Bloomberg TV, sets the record straight, and shows he is the boss
Bank of Japan records breakthrough in its CBDC trial
Why is the crypto market down today? November 2022 update
We take a look at Crypto firms that went bankrupt in 2022

Add Your Heading Text Here