The Fantom token has seen some impressive price increases recently. However, the market has only recorded minor price increases in today’s trading activities. Although upside forces are in the lead, it stands a chance of producing more price increases in subsequent sessions.
FTM Statistics:
Fantom Price: $1.4180
Fantom Market Capitalization: 3.97B
FTM Circulating Supply: 2.8B
Fantom Total Supply: 3.17B
FTM CoinMarketCap Rank: 40
Key Price Levels:
Resistance: $1.5000, $1.7000, $1.9000
Support: $1.4000, $1.2000, $1.000
Fantom Bulls Sustain Trading Activities Above $1.400 Threshold Level.
Price action in the FTM daily market has sustained itself above the psychological price level of $1.400. Additionally, the mentioned price level lies above all the Moving Average (MA) ribbons on the price chart. The previous session produced a downward rejection that brought the market back below the technical support at $1.400.
However, that price move seems to be a temporary setback, as today’s trading session has returned the price above that level. Similarly, the Stochastic Relative Strength Index lines are pointed upwards, with the lead line now testing the 50-level of the indicator. Combining the available indications with the current market stance suggests that this market has upside potential.
FTM Price Sees a Downward Deflection
Price activity in the Fantom token’s 4-hour market timeframe has seen a downward deflection. Here, the last price candle can be seen standing just above the $1.400 mark. The mentioned price candle has an upwardly contracted body, indicating that price activity continues to feel the impact of upside forces.
Likewise, price action stays above all the MA lines, and the Stochastic RSI lines are still rising upward into the overbought region of this indicator following a crossover above the 50-level of the indicator. Consequently, traders can still target a retracement to the $1.500 level in this market.
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