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Price action in the Fantom market seems to have secured a strong base. The potency of the likely resulting upside move has both psychological and technical bases. Let’s further analyze this market for more understanding and guidance.
Fantom Statistics:
Current FTM Value: $0.3998
FTM Market Cap: $1,124,334,460
Fantom Circulating Supply: 2,803,634,836
FTM Total Supply: 3,175,000,000
Fantom CoinMarketCap Rank: 60
Key Price Levels:
Resistance: $0.3998, $0.4100, and $0.4200
Support: $0.3900, $0.3800, and $0.3700
FTM Bull Delivers a Good Thrust
Price action in the Fantom daily market started an upside journey when it took off from what seemed like a strong base about four sessions ago. Although things started moderately, the ongoing session has witnessed a good push in the upside direction. Also, the two sets of the Guppy Multiple Moving Average (GMMA) curve have converged below the last price candle.
In addition, the Stochastic Relative Strength Index (SRSI) indicator lines have likewise delivered a bullish crossover above the 50 levels of the indicator. Meanwhile, the ensuing lines following the bullish crossover have risen significantly into the overbought region. This would have signaled that the market may not move very much farther from here, but the positioning of the GMMA’s crossover seems to contradict this opinion.
Fantom Bulls Seem Relentless
In the FTM 4-hour market, we can see that buyers are behaving as expected. The position of the GMMA’s crossover seems to be taking effect already in this market. A new session has begun, and buyers have kept on pushing prices higher. Here, the token has crossed the $0.4000 threshold.
Meanwhile, the SRSI indicator lines have reached the 100 mark of the indicator and have not delivered a crossover. The SRSI lines can be seen dragging in the overbought region. While the market keeps moving as anticipated, it appears that the daily time frame will be best for deducing good crypto signals for this market. Consequently, traders can pick targets at the $0.4100 price level.
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