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Fantom price analysis: Upswing profitably places FTM price above $2.37 level

Fantom price analysis Upswing profitably places FTM price above level

TL;DR Breakdown

  • The price has reached $2.37 position.
  • Uptrend confirmed by Fantom price analysis.
  • Support levels are strengthened at $2.21.

The price is on the rise once again as can be confirmed from the one-day and four hours Fantom price analysis. An uptrend has been following quite consistently and the price has been traveling in the upward direction quite steadily. Even today, an increase in price has been detected because of the bullish momentum. The price is now at the $2.37 level and is expected to move higher in the upcoming days.

FTM/USD 1-day price chart: FTM price glides smoothly towards its next target

The one-day Fantom price analysis is indicating that an uptrend has been at its peak for the past few weeks. An improvement in price has been recorded in the last 24-hours as well as the price successfully reached the $2.370 position. Although the price fell abruptly in the previous week, the bullish momentum has been restored back once again. The price has moved beyond the moving average (MA) value at $2.161 as well.

Fantom price analysis: Upswing profitably places FTM price above $2.37 level 1
FTM/USD 1-day price chart. Source: TradingView

The volatility has decreased which means that the price might go even higher than its current levels. The Bollinger bands Indicator in the one-day price chart are indicating the following values; the upper value is $2.64 while the lower value is $1.26. The Relative Strength Index (RSI) score is near the overbought mark as well and is at 65.4.

Fantom price analysis: FTM experiences decline at $2.40 after bearish return

The price is headed down once again as the bears made a comeback in the last four hours. The FTM/USD value has dropped down to $2.37 after the red candlesticks reappeared on the price chart. Just when the bulls were about to take the price higher than the $2.40 barrier, the bearish momentum intervened by bringing the price even lower. The price is still above the moving average value i.e. $2.37 which is a positive sign.

Fantom price analysis: Upswing profitably places FTM price above $2.37 level 2
FTM/USD 4-hours price chart. Source: TradingView

The Bollinger bands indicator is maintaining their average value at $2.303 level. Whereas the upper extreme of the Bollinger bands is at $2.459 and the lower extreme is at $2.14. The RSI score has dropped down to 58.23 after the bearish momentum was revived.

Fantom price analysis: Upswing profitably places FTM price above $2.37 level 3
FTM/USD technical indicators chart. Source: TradingView

The overall trend for FTM/USD is on the bullish side as the price has experienced tremendous growth in the last few months. There are 15 indicators on the buying position, 10 indicators on the neutral position while only one indicator is on the selling position.

The moving averages indicators is indicating a strong bullish signal for the cryptocurrency as well. We can see that 13 indicators are standing on the buying position, while one indicator each is resting on the selling and neutral positions. The Oscillators are supporting the buyers today and there are nine oscillators on neutral position, two oscillators on buying position while no indicator is there on the selling position.

Fantom price analysis conclusion

The one-day and four hours Fantom price analysis shows that the price has managed to escape the $2.37 barrier as well. It is expected that the uptrend will continue to heighten in the upcoming week as well. If the support does not go lower than the $2.21 position, chances of further progression will come forward.

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.
Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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