Fantom (FTM) Price Breaks into the $0.3000 Region

Azeez Mustapha

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Fantom’s price has moved upwards by a significant 9.37% on the day, which has seen the token break up the price resistance level at the $0.3000 price mark. Indications coming from this market suggest that price action may want to approach higher price marks as trading continues.

FTM Statistics
Fantom Value Now: $0.3014
Fantom Market Cap: $847M
FTM Circulating Supply: 2,797,295,464.35
FTM Total Supply: 3,175,000,000
Fantom CoinMarketCap Ranking: 46

Major Price Levels:
Top: $0.3014, $0.3100, and $0.3160
Base: $0.3000, $0.2950, and $0.2900

Fantom (FTM) Price Brakes into the $0.3000 Price Region

Fantom (FTM) Price Is Eying the $0.3100 Mark

On the daily chart, price action in the FTM/USD market has poked into the bullish region, as suggested by the Fibonacci Retracement tool. A price candle of significant length has just appeared on the chart and has pushed prices above the 78.60 Fibonacci Retracement level.

Meanwhile, price action has also surpassed both the 9- and 21-day Moving Average lines. Consequently, this suggests that the upside retracement may progress further at this point.

Likewise, one can perceive that while the Stochastic Relative Strength Index (RSI) indicator lines are in the overbought region, they have yet to deliver another bullish crossover. The lines of this indicator can now be seen taking a steeper upward bearing. As a result, this reveals that prices may rise more vigorously from here on out.

Fantom (FTM) Price Brakes into the $0.3000 Price Region

FTM Buyer Seeks to Extend Profits Towards the $0.3100 Price Mark

On the Fantom 4-hour chart, it appears that buyers are ready to retain control of price action. This can be seen as a new session starting with buyers taking the lead, as a green price candle has appeared for the new session.

Similar to what we have on the daily chart, price action stays above both the 9- and 21-day MA lines. This reveals the readiness of buyers to keep pushing prices up. However, the lines of the applied Stochastic RSI indicator can be seen merging and now moving sideways.

This is revealing that price action seems to be facing resistance, yet buyers aren’t ready to let go of price movements. Prices may continue to retrace above the $0.3200 mark, should buyers be able to weary sellers at this point by holding their ground.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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