- FTM prices are trapped in the integration phase of the daily chart, calling for its bulls to bail out the coin.
- Cryptocurrency assets are traded below the moving average of 20, 50, 100 and 200 days.
- The FTM / BTC pair is 0.00001245 BTC, a loss of 2.48%.
FTM prices have been volatile these days and are in parallel channels of resistance and support at $ 0.300 and $ 0.23, respectively, on the daily price chart. Integrated pricing is currently supported by bulls as they gather to push prices up to the upper arm of parallel channels. If the situation persists, we can expect a successful breakout.
To register a breakout, the coin needs to attract more buyers. Otherwise, the price may remain in the integration phase as the bear will definitely stop this price pump. Volume has decreased by 1% and is recovering. The price hit a high of $ 0.26 during the daytime trading session.
One current price FTM coin Is trading at $ 0.24 and has a loss of 5.28% in market capitalization over the last 24 hours. The trading volume of coins is 121 million, with a loss of 0.89% in a 24-hour trading session and a market capitalization of 331 million.Volume market capitalization ratio is 0.1928
Short-term analysis
Analyzing the short-term (4 hour) graph of FTM, we can see that after a small gain, it is beginning to recover bearish again. This bearish rally could continue further, and the breakdown is expected as the technical indicators favor the same.
The MACD indicator shows that after the histogram shrinks, the seller is again dominant and the gap between the seller signal line and the buyer line is widening. Therefore, this domination supports a bearish rally.
The relative strength index supporting the above is approaching the oversold territory. The RSI value for FTM is 32.
Conclusion
FTM With less recent price volatility, we have entered parallel channels of resistance and support at $ 0.300 and $ 0.23 on the daily price chart, respectively. To register a breakout, you need to attract more coins to the buyer. Otherwise, the price may remain in the integration phase. Short-term analysis shows that bears are once again dominant after a slight rise and are preparing for failure as indicated by technical indicators.
Technical level
Resistance levels: $ 0.30 and $ 0.38
Support levels: $ 0.23 and $ 0.20
Disclaimer
The views and opinions expressed by the author or the person described in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.
