Fantom (FTM): In-Depth Technical Analysis
✨Introduction:
Fantom (FTM) has exited the accumulation phase and experienced a parabolic growth of 180%.
Now, it has entered a secondary downtrend. Let’s dive into a comprehensive analysis of this coin, discussing key support and resistance levels, as well as buy or sell strategies.
🕶 4-hour:
On the 4-hour timeframe, we observe a descending channel that has seen significant price reactions. However, the volume has been decreasing since the channel’s start, indicating reduced trader and investor interest. The order books are almost empty, and open interest is low, suggesting an imminent sharp move. At 0.8521, there is a key 4-hour resistance level. After a previous false breakout and support test, the price is now retesting this level. If it breaks, we could see a rise to 0.9241. Conversely, breaking 0.7643 would be a signal to enter a short position.
🥇For Holders:
Let’s start by examining Fantom’s trend on the daily timeframe. After over 2 years of accumulation, Fantom has broken out and begun a primary uptrend. Following a 180% growth, it has entered a secondary downtrend, with minor downtrends visible in shorter timeframes. The previous high at 1.1846 is a key level; breaking and consolidating above it could signal a continuation of the primary uptrend, making it a good point to hold. For a riskier entry, consider buying after breaking the resistance at 0.9618. The support at 0.6636 is crucial; if it breaks and consolidates below this level, it would be a signal to sell.
⭐Additional Triggers:
For those seeking well-informed investment decisions, it’s prudent to consider insights from the Bitcoin pair (FTM/BTC) alongside other factors. Beyond the critical Resistant of 0.0001505, if Bitcoin’s trajectory remains bullish, Fantom may witness a significant uptrend. However, in the event of a contrary trend, there are undoubtedly alternative assets positioned for superior growth compared to Fantom. Additionally, if you desire tutorials on * the Bitcoin pair *, kindly express your interest in the comments, and I’ll gladly provide comprehensive guidance.😊
🔻 Key Support Levels:
0.7976 , 0.7643 , 0.6366
🔺 Key Resistance Levels:
0.8521 , 0.9618 , 1.1846
🎯What do you think about the current Fantom trend? Share your thoughts in the comments! Don’t forget to like and follow for more updates. 🚀
