Fantom (FTM) Finally Breaks the $0.7000 Resistance

The price of the FTM token has increased by nearly 4% today—precisely 3.95%. The coin ended the previous day in the green after the market crossed above a key landmark on technical indicators. Today’s gain has occurred and suggests that more increases may yet be seen.

FTM Statistics:
Fantom Price: $0.7028
FTM Capitalization: $1,955,316,679
Fantom’s Circulating Supply: 2,803,634,836
FTM’s Total Supply: 3,175,000,000
Fantom’s CoinMarketCap Rank: 44

Key Price Levels:
Resistance: $0.7200, $0.7700, $0.8200
Support: $0.7000, $0.6500, $0.6000

FTM Market Is Positioned for More Bullish Traction

Price action in the Fantom daily market has found support above the middle limit of the Bollinger Bands (BB) indicator. Bears tried to seize control of price movement from the bulls. However, buyers were able to shake off bearish pressure, and the market has continued its upward trajectory in the ongoing session.

The behavior of the BB indicator suggests that an upward breakout may have begun, which explains the current price action and hints that more gains may follow. The Stochastic Relative Strength Index (Stochastic RSI) is still rising, and the leading line has just crossed the 50 threshold, indicating that upward momentum may gain strength.

.7000 Resistance" width="580" height="300" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/10/FTMUSDT_2024-10-09_05-44-55_054814-1024x530.png"/> Fantom Bulls Seem Set to Continue

On the 4-hour chart of the Fantom market, price activity suggests readiness to extend toward higher price levels. The previous session ended in favor of the bulls, showing moderate gains. A new session has begun with price action above the middle limit of the BB indicator, with buyers still in control.

The BB indicator is tilted upward, while the Stochastic RSI has delivered a bullish crossover. As a result, technical indicators are aligned to suggest that upward forces may still propel the market. Therefore, traders can utilize crypto signals targeting the $0.7100 level for short-term gains, and around $0.7200 in the meantime.

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