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The Fantom token has been able to displace Solana from the second spot on the daily crypto mover’s list. This was made possible as the token’s price increased by 3.40% on the day. Yet, price action stays in pursuit of higher price levels in a manner that suggests that the token will move higher as trading continues.
Key Price Levels:
Resistance: $0.8997, $0.9500, and $1.000
Support: $0.8500, $0.8000, and $0.7600
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Fantom Prepares to Cross Above the $0.9000 Threshold
Price activity in the FTM daily market continues its strong bullish path. The market has kept on making higher highs at a fast pace ever since it gained significant traction late last month (February). The ongoing session has shown buyers’ readiness to keep buying as they keep mounting pressure, even in bearish territory.
Also, the last price candle on this chart can be seen appearing above the Fibonacci Retracement Level of 23.60 and above the Guppy Multiple Moving Average (GMMA) curves. Likewise, the Relative Strength Index (RSI) indicator lines have delivered a bullish crossover, deep in the oversold region. Consequently, this suggests that traders can continue to use bullish crypto signals in this market.
Even the Fantom 4-hour market maintains a promising outlook. This could be seen as buying seeming to have resumed, following the price dip in the previous session. This signals the willingness of buyers to continue advancing further upward.
The ongoing session has placed the token’s price above the GMMA lines and thus has kept the market on an upward trajectory. Meanwhile, the SRSI indicator lines have continued to rise out of the oversold region despite the downward correction that occurred in the previous session. Consequently, this market seems primed for at least hitting the $0.9500 mark.
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