Fantom (FTM) Price Analysis – November 25
According to the daily chart, the bears may take over as the Fantom retreats below the 9-day moving average.
Resistance levels: $3.0, $3.2, $3.4
Support levels: $2.0, $1.8, $1.6
FTM/USD touches a daily high of $2.70, after which it begins to retreat below the 9-day moving average. However, the decline may continue if the bulls fail to keep the upward movement. Meanwhile, the Relative Strength Index (14) prepares to cross below 50-level as the 9-day moving average remains below the 21-day moving average to begin a downward movement.
Fantom Price Analysis: What Could Be the Next Direction for Fantom?
According to the daily chart, the Fantom price may likely find support levels at $2.0, $1.8, and $1.6 if the bears bring the coin below the lower boundary of the channel. But, if the bulls hold the support at $2.5, the market price may begin to climb higher as the traders may expect immediate resistance to be located above the 9-day and 21-day moving averages at $2.8 while the higher resistance lies at $3.0, $3.2, and $3.4 levels respectively.
FTM/BTC Market: Price Retreats Below 4625 SAT
Against Bitcoin, the Fantom price is trading within the channel as the coin stays above the 9-day and 21-day moving averages, Fantom (FTM) may remain perpetually in an upward movement if the bulls keep the coin above the moving averages. Meanwhile, the buyers need more strong and consistent resistance to keep the upward movement for the FTM market.
For now, with the current movement on the daily chart, if the price breaks below the 9-day and 21-day moving averages, it may likely reach the critical support levels at 3700 SAT and below. On the contrary, if the market could move towards the upper boundary of the channel, the Binance price could hit the resistance level of 5000 SAT and above as the technical indicator Relative Strength Index (14) prepares to cross below 50-level.