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Fantom price analysis: FTM/USD is bullish for the next 24 hours

Fantom price analysis price analysis

TL;DR Breakdown

  • Fantom price analysis is bullish for today, up by 2.13%.
  • The price has failed to break through the resistance level of $2.213
  • If the support level of $2.15 is maintained, the bulls may push prices even higher.

The price movement is favorable for today since the support at $2.15 has been exceeded. The bulls had to overcome a resistance of $2.213, which they have yet to breach. Another resistance lies around the $2.3 mark, and the recent performance has stayed beneath these levels.

Fantom has done extremely well in the last several days, increasing by 27% on September 22nd and 8.59 percent on September 27th. On October 1st, FTM/USDT rose by another 17.49%, whereas 13.83 percent was gained on October 6th. On October 7th, traders saw a price rise of 2.13% when the value of Fantom reached $2.19798.

It is still early to predict what the future holds for this currency since markets are unpredictable. However, Fantom’s recent performance has been incredible, and it continues to outplay other cryptocurrencies by a significant margin.

In October, the monthly candle was up by 80%, and the coin’s price increased by more than 180%, followed by a rise of 67.56 percent in September. The promise of the coin has boosted investors’ expectations for the FTM/USD trading pair.

Today’s price was $2.26, with the highest at $2.26 and the lowest at $2.04. In the long run, investors are optimistic.

FTM.USD Four price analysis chart: Technical indicators are turning bearish for today

On the 4-hour chart, we saw the Fantom price analysis turn bearish as several red candles were seen. However, this was followed by a few green candles. The price action is above both the 50-day and 100-day Moving Averages, despite the closeness between them narrowing.

At this analysis, Fantom is positioned in the upper part of the Bollinger Bands and remains very bullish. However, selling pressure has increased, and the price is approaching the lower end of the Bands.

Fantom price analysisFantom price analysis on the 4-hour chart by TradingView

The RSI and MACD indicators may be used to analyze Fantom prices. The RSI indicator is above the 60-level, but the gradient is turning negative. This implies that selling pressure is on the rise.

The MACD indicator comprises two lines that represent the buying and selling pressure for the FTM/USDT pair. On the 4-hour chart, we observed a bearish crossover, which implies that the price will remain bearish in the near presenting term.

Fantom price analysis: Conclusion

Todaycomprises, FTM/USD is trading at $2.26 and is expected to continue rising in the short term. However, it may experience a decrease in price throughout the day. According to our Fantom price analysis, the next resistance lies around the $2.313 mark, while support for this cryptocurrency is set at $2.15.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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