Fantom (FTM) Stays Extends Bullish Retracement

The Fantom token generally seems to have been reaching elevated price levels in recent times. This move seems to have received an additional boost when the market today moved upward by over 8%. Also, this has advanced the market past more important technical landmarks. Let’s see how this may play out.

Fantom Statistics:
Current FTM Price: $0.5492
Fantom Market Cap: $1,546,454,996
Fantom Circulating Supply: 2,803,634,836
FTM Total Supply: 3,175,000,000
Fantom CoinMarketCap Rank: 48

Key Price Levels:
Resistance: $0.5500, $0.6000, $0.6500
Support: $0.5000, $0.4500, $0.4000

Fantom Buyers May Have Picked a Mark at the $0.6000 Price Level

Price activity in the FTM Token’s daily price chart landed a notable price increase in today’s trading activity. The corresponding price candle can be seen standing above all the Guppy Multiple Moving Average (GMMA) curves.

Also, the size of the mentioned price candle suggests that buyers are of good number and have the potential to forge the market ahead. Meanwhile, the Stochastic Relative Strength Index (Stochastic RSI) lines can be seen taking to an upward. This confirms the dominance of upside forces in the market.

FTM Market Stays Focused on Upside Targets

By extending this price analysis to a Fantom market of 4 hours, it could be seen that price movement is consistent with its upside trajectory. The last price candle here is still appearing large enough while above the GMMA curves. Also, the Stochastic RSI lines are rising upwards following a bullish crossover.

What’s more, the mentioned crossover can be seen occurring above the 50 mark of the indicator. This supports the fact that upside forces may still have the momentum to rise further. Therefore, this suggests that crypto signals targeting the $0.6000 may be worth using in this market.

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