FTM price lost almost half its value in last week’s market carnage. However, the buyers still refuse to drop below the $2 mark, indicating a high point for reversal. Moreover, according to analysis tool DeFiLlama, Phantom has become the third-largest decentralized finance (DeFi) ecosystem in terms of total value locked(12.39B).
Негизги техникалык пункттар:
- Күнүмдүк-Стохастикалык көрсөткүч K жана D сызыктарынын арасында өсүш кроссоверди көрсөтөт
- The intraday trading volume in the FTM coin is $2.18 Billion, indicating a 26% hike.
Булак- Tradingview
As we mentioned in our previous coverage on Phantom technical analysis, the FTM price slashed by 46% from the All-Time High of $3.48 and plummeted to the $2 support. Coin buyers expressed high interest in this discounted price, resulting in a long bullish candle on the weekend.
On January 24th, the sellers tried to regain control over the coin by pushing it below the $2 mark; however, the increasing underlying bullish rejected the price with a long wick, indicating high demand.
The FTM/USD pair trading above the 100 and 200 EMA maintains a bullish trend. However, the recently flipped 50 EMA resistance puts strong selling pressure on the rising price.
The daily-Stochastic RSI provides a bullish crossover of the K and D line, supporting a bullish reversal.
Double bottom Breakout Hints Recovery Bell For FTM
Булак-Tradingview
The recent price jump in FTM/USD has formed a double bottom pattern in the 4-hour time frame chart. The coin price has spiked 23% from the $2 support and now challenges the $2.4 neckline for a bullish breakout.
The 4-hour Relative Strength index(52) shows impressive recovery from the oversold region. Moreover, the RSI slope projects a bullish divergence, projecting a high possibility for a double bottom breakout.
- Каршылык деңгээли - $2.4, $2.7
- Колдоо деңгээли $2 жана $1.2
баш тартуу
Сунушталган мазмун автордун жеке пикирин камтышы мүмкүн жана базар шартына ылайык. Криптовалютага инвестиция салуудан мурун, базарыңызды изилдеңиз. Сиздин жеке материалдык чыгымыңыз үчүн автор же басылма эч кандай жоопкерчилик тартпайт.
жөнүндө Author
Source: https://coingape.com/markets/fantom-price-analysis-double-bottom-breakout-hints-recovery-bell-for-ftm/