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The Fantom market has maintained its upward correction. The token’s price increased by an additional 1.98% on the day. Price movement in the market continues to suggest that further upward moves are possible, as the market remains on its bullish trajectory.
A new session has begun in the FTM/USDT daily market, with buyers in control. Price action has just breached the 50% Fibonacci Retracement level, and recent candles are hugging the upper limit of the Bollinger Bands.
Meanwhile, the Stochastic Relative Strength Index (RSI) remains in the overbought zone. Although the leading line of the indicator is slightly bent, indicating a potential bearish crossover, there is still some distance between the two indicator lines. Given that bulls are still leading, a downward crossover is less likely to occur.
FTM Leaps Off a Strong Base
In the 4-hour Fantom market, price action has taken an upward leap from the middle Bollinger Band. The ongoing session, represented by the latest price candle on the chart, has pushed the market further above the middle Bollinger Band.
Additionally, the upper and lower bands of the Bollinger Bands indicator are contracting toward each other while maintaining an upward trend. The Stochastic RSI curves also move upward, following a bullish crossover in the oversold region. Based on these indicators, traders might consider using crypto signals to target the $0.8000 and $0.8500 price levels.
downward rejection.
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