FTM Price Rallies Over 14+% Despite Encountering Resistance
- FTM market shows strong bullish momentum with potential for a breakout.
- Traders should watch for overbought signals and consider stop-loss orders.
- Increasing market volatility presents trading opportunities for profit.
Bears gained the upper hand in the Fantom (FTM) market early in the day until the intraday low of $0.3949 provided support. After establishing support, the bulls gained control and drove the price of FTM to a high of $0.4679, representing a 14.52% advance from the intra-day low despite encountering resistance at the intra-day high of $0.4716.
If the bullish trend continues, the price may break the $0.4716 resistance level, and the next resistance levels may be around $0.4800 and $0.4900, while a negative reversal may see the price retest the $0.4200 support level.
Traders poured into the market expecting a long bull rise, triggering a 14.72% increase in market capitalization to $1,301,847,389, indicating strong investor confidence in the positive trend. The 24-hour trading volume declined by 20.18% to $320,310,023, indicating that investors are holding their positions and not trading often, which is a favourable sign for the market’s long-te…
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