Fantom (FTM) Price Correction Concludes as Buy Signals Emerge

Thursday, 2 May 2024, 23:59
Fantom's price is currently trading above a crucial support level, signaling a potential recovery. On-chain metrics indicate buy signals, notably due to positive movements in Moving Average Convergence Divergence (MACD) and daily active addresses (DAA) indicators. While there are chances of a consolidation, the emergence of buy signals suggests a possible increase in Fantom's price in the near future.
https://store.livarava.com/06f5826d-08e4-11ef-a6c1-63e1980711b2.png
Fantom (FTM) Price Correction Concludes as Buy Signals Emerge

Price Recovery Potential for Fantom (FTM)

Fantom's price above $0.63 signifies a favorable condition as supported by MACD, hinting at a bullish crossover. Additionally, DAA divergence serves as a buy signal, indicating an optimal accumulation zone.

Price Prediction and Analysis

Despite resistance at $0.79 and $0.88, a rally in FTM could reach $0.79 before potential halting at this level. Breaching $0.80 remains uncertain. Conversely, breaking below $0.63 could lead to notable losses, invalidating the bullish outlook.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe