Signal price

Fantom Price Analysis: FTM remains within the range at $0.230. Break over incoming?

Fantom’s recent price analysis confirms a bullish trend for the cryptocurrency, intensifying the buying momentum. A green candlestick marks the price chart, indicating an increase in the coin’s value. If the bullish rally continues in the future, further improvement in FTM/USD value can be expected. The recent rally has taken the price to $0.230 as it recovers. However, the coin seems to be range bound since September 19, 2022 after the strong correction, which was seen on September 18, 2022. The price stabilized to yesterday’s opening level, and if the bulls are gaining strength, a break above can be expected. .

FTM/USD 1-Day Price Chart: FTM Bulls Recover 3.82% Value

One-day Fantom price analysis shows that bullish momentum has recovered over the past 24 hours. Although the cryptocurrency has suffered losses over the past few days, the bulls are now on their way to their next goal of breaking above the current price level. The short-term trendline continues to descend and the price is now stabilizing at $0.230 after the latest rally. The cryptocurrency reports a 3.82% increase in value over the past 24 hours, but at the same time the coin lost 4.45% in the past week. The price is still below its moving average (MA) value, i.e. $0.238.

FTM/USD 1 day price chart. Source: commercial view

The SMA 50 curve is still moving higher than the SMA 20 curve as the bears dominate the market trends since August 11, 2022. If we are heading towards the Bollinger Bands indicator, then it is showing increasing volatility with its upper band at $0.286, which represents the resistance, and the lower value is $0.220, which represents the strongest support. The Relative Strength Index (RSI) score improved to an index of 36 after the bullish comeback, hinting at the buying momentum in the market.

Fantom Price Analysis: Recent Moves and Other Technical Indications

Fantom’s hourly price analysis is moving in a bullish direction as the price has undergone a sufficient increase in the past few hours. Market trends fluctuated late into the night as the bears stepped in and brought a strong correction, but currently the bulls are forging ahead. Due to the latest bullish current, the price moved to $0.229 in the last four hours. A further rise is highly possible if the bulls remain consistent. The moving average value is also present at the $0.227 mark.

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FTM/USD 4 hour price chart. Source: commercial view

The volatility is decreasing, which is due to the price hovering in the same range for the third day in a row, but the Bollinger Bands may start to diverge if the bulls gain strength. The upper band of the Bollinger Bands indicator is now touching the $0.229 position, while its lower band is at the $0.218 position. The RSI score is in a calm neutral zone and has risen to the 44 index due to the latest rally taken by the price curve.

The cryptocurrency suffered a considerable loss in the previous weeks, which was confirmed by the technical indicators available for analysis. There is a sell signal for FTM/USD due to the constant bearish shadow in the market despite rice rising today. There are 14 indicators on the sell side; eight indicators are neutral, while only four are long out of a total of 26 technical indicators.

Fantom Price Analysis Conclusion

The 1-day and 4-hour Fantom price analysis shows quite encouraging results for buyers today as the price has trended higher. The value of the coin was raised to $0.230 due to the latest bullish wave. At the same time, the four-hour price chart shows green candlesticks as the market has been trending up for the past few hours.

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