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Price movement in the Fantom daily market has previously shown wide fluctuations. However, the market seems to be more settled at this point, with reduced volatility. Meanwhile, price action is showing signs of attempting to steadily correct towards higher price levels. Let’s study more and see.
Fantom Statistics:
Current FTM Value: $0.7333
Fantom Market Cap: $2,070,296,917
FTM Circulating Supply: 2,803,634,836
Fantom Total Supply: 3,175,000,000
FTM CoinMarketCap Rank: 50
Key Price Levels:
Resistance: $0.7500, $0.7700, and $0.7900
Support: $0.7300, $0.7150, and $0.7000
Fantom Retains Support Above the 50 Fibonacci Retracement Level
The FTM market on a daily time frame appears more settled at this point, above the 50 level of the Fibonacci retracement level. The size of the last price candle isn’t that promising, but the baseline on which it stands is indicative of the fact that price action may continue upward.
Furthermore, the token currently trades above just two lines of the Guppy Multiple Moving Average (GMMA) lines. However, the Stochastic Relative Strength Index (SRSI) lines continue to rise upward. Meanwhile, the last price candle on the chart is bullish due to its green appearance. Summing up the indications from this market, traders can still hope that the market will move higher, which justifies the use of bullish crypto signals in this market.
FTM Market Continues to Move Steadily Upwards
Coming to the Fantom 4-hour market, we can see by inspection that the price of the token has increased. The last price candle here can be seen to be considerably larger than that on the daily market. Furthermore, the ongoing session has made more progress moving across the GMMA indicator lines, showing that upside forces are making good progress.
Likewise, the SRSI indicator lines can be seen rising upward after delivering a bullish crossover in the oversold region. Consequently, the activities of technical indicators will strengthen upside anticipation as the market moves towards a much closer price level at the $0.8000 mark.
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