Lorenzo Stroe
Independent Analyst
- After hitting a new 2020-high at $0.014, FTM/USD started a healthy consolidation towards $0.01.
- FTM bulls are back in town eying up the recent high at $0.014 and $0.015.
Fantom experienced a massive 135% surge in three days setting a new 2020-high. FTM/USD had a significant increase in trading volume and the daily RSI got heavily overextended. The digital asset had a healthy consolidation period of two days hitting a low of $0.0102 before resuming its bullish momentum.
FTM/USD daily chart
Fantom looks ready to crack $0.014 and continue towards $0.015 as there is very little resistance until that level. Buyers will need to break $0.0145, but after that, they have a free run until almost $0.016. The daily RSI has cooled off but remains overextended, however, this indicator will not necessarily stop bulls from climbing above the last high.
FTM/USD 4-hour chart
Fantom is back trading inside a 4-hour uptrend after defending the 26-EMA several times in a row. FTM/USD is currently above both EMAs which have remained bullish and will continue to act as support levels if needed. The MACD is still bearish but on the verge of a bull cross while the RSI is slightly under the overextended level.
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