Fantom price analysis: Bullish momentum helps elevate FTM price to $1.173

Fantom price analysis Bullish momentum helps elevate FTM price to

TL;DR Breakdown

  • The Fantom price analysis is bullish for today.
  • Support for FTM is present at $1.102.
  • Next, resistance is present at $1.237.

The Fantom price analysis is on the bullish side today as it shows the price has increased further after yesterday’s bullish price action. The coin has been following a bearish trend previously, as the trend line is still downwards after 4th April. But the coin started to recover yesterday and is continuing the recovery process for today as well. However, the recovery is slow and low, but at least the price movement is positive as the price has reached $1.173 level.

FTM/USD 1-day price chart: Price oscillations remain slow, hindering the recovery process

The 1-day price chart for Fantom price analysis shows bulls are defining the price action for today. The FTM/USD pair has been continuing upside for today after closing at $1.169 in the previous trading session. The crypto pair is trading hands at $1.173 at the time of writing as it has gained a value of 2.1 percent during the last 24 hours. The cryptocurrency is still at a loss of 14 percent if observed over the past week as the price trend line is downwards. The trading volume has also decreased by 28.72 percent today, providing a market dominance of 0.16 percent.

Fantom price analysis: Bullish momentum helps elevate FTM price to $1.173 1
FTM/USD 1-day price chart. Source: Tradingview

The volatility for the FTM price function is high, as the Bollinger Bands indicate, with the Upper band at $1.649 representing the resistance and the lower band at $1.101 representing the strongest support, making an average at $1.375. The price is trading near the lower limit of th indicator. The relative strength index (RSI) confirms today’s uptrend as it trades at index 39 in the neutral zone, but the curve has straightened out, hinting at the lack of momentum from the bullish side as the price oscillation is slow.

Fantom price analysis: Recent developments and further technical indications

The 4-hour price chart for Fantom price analysis shows the price movement has been upwards for most of the time today except for a minor correction that took place four hours back. The bulls have taken over again and have made most of the progress during the last four hours, which is a hopeful sign for the coming hours.

Fantom price analysis: Bullish momentum helps elevate FTM price to $1.173 2
FTM/USD 4-hour price chart. Source: Tradingview

The volatility is high on the 4-hour chart as the Bollinger Bands average is forming at $1.184 above the price level, while the upper band is at $1.293, and the lower band is at the $1.075 mark. The RSI has also been increasing during the last few hours as it is trading at index 42.

Fantom price analysis: Conclusion

The Fantom price analysis shows that the coin has continued upside today. However, the price oscillation is slow, and the recovery is on the lower side. The chances to retest the resistance at $1.237 are non-existent, but a possibility can arise if the bullish momentum intensifies in the coming hours.

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.

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