Fantom (FTM) Buyers Determined to Reclaim the $0.5 Price Level
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Reclaiming the $0.5 price level is very important to the bull market as it will establish the market in a bullish trend. Prior to this bull market, the price of Fantom was on the decline. On February 4, the market reached the $0.66 price level. This is the highest level the market has reached so far this year. This was where the bear market was triggered, as we continue to see lower highs in the market. The bear market came to a halt at $0.33. This price level is the basis for the current bull market.
FTM/USD Price Statistics
- FTM/USD Price Now: $0.49
- FTM/USD Market Cap: $1,365,713,162
- FTM/USD Circulating Supply: 2,782,759,167
- FTM/USD Total Supply:3,175,000,000
- FTM/USD Coin Market Cap rank: #42
Key Levels
- Resistance: $0.55, $0.60, and $0.65
- Support: $0.40, $0.35, and $0.30
Price Prediction for Fantom: The Indicators’ Point of View
Currently, the bull market is battling for the $0.5 price level. Capturing this price level will establish a bullish trend as the market will adopt an upside trend if the key resistance is captured. But if the bulls fail to capture the key resistance, as illustrated by the Bollinger Bands, the price channel will move in a sideways pattern, with a wide distance between the support and resistance levels. Eventually, the bands might converge at around the $0.5 price level before another decisive movement of the market. The market is trending to the upside according to the Moving Average Convergence and Divergence indicator (MACD). However, the MACD lines have to cross out from below the zero level to establish a bullish sentiment.
FTM/USD 4-Hour Chart Outlook
The outlook of the market from a 4-hour point of view reveals that the $0.5 price level is a major price mark in the FTM market. The bulls have recently failed to push the price beyond this level. However, they refused to let go of the price level, resulting in indecision around this price level. The bull market later stepped back to find another strong base at $0.45, from where it reached the $0.5 price level. From the look of things, it still looks like the bears are strong around this level.
