Fantom (FTM) increased considerably in December. A breakout above $2.65 would likely lead to a new all-time high price.
FTM has been increasing since reaching a low of $1.14 on Dec 4. The same day, it created a very long lower wick, which is considered a sign of buying pressure (green icon). On Dec 14, the token created a higher low and resumed its upward movement at an even more accelerated rate. So far, it has increased by 110%, leading to a high of $2.59 on Jan 1.
On Dec 26, FTM broke out from a descending resistance line that had been in place since the Oct 26 all-time high. This confirmed that the correction is complete.
The main resistance area is at $2.65. A breakout above it would likely lead to a new all-time high price.
Cryptocurrency trader @AltcoinSherpa tweeted an FTM chart, stating that the token is likely to increase towards $2.4.
Since the tweet, the token has already reached this level, and is now attempting to break out.
Current movement
Technical indicators for FTM in the daily time-frame also support the continuation of the upward movement.
The MACD, which is created by a short- and a long-term moving average (MA), is increasing and has crossed into positive territory (green icon). This means that the short-term MA is faster than the long-term one, and supports the continuation of the upward movement.
The RSI, which is a momentum indicator, is increasing and is nearly above 70. This is also a sign that a breakout is likely.
The two-hour chart supports these findings.
FTM has reclaimed the $2.45 area, which previously acted as resistance. Afterwards, it bounced above it on Jan 3, validating it as support.
FTM/BTC
Similarly, the FTM/BTC pair has been increasing since breaking out from a descending resistance line on Dec 24. While it did not reach a new all-time high, the Jan 1 close (green icon) was the highest daily close in history.
Once it manages to move above the 5400 satoshi resistance area, FTM is likely to go to a new all-time high price.
The next resistance area would be at 8000 satoshis, created by the 1.61 external Fib retracement resistance level.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
Apple AirTag 4 Pack
$67.19 (as of January 5, 2025 19:18 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Aquaphor Baby Healing Ointment Advanced Therapy Skin Protectant, Dry Skin and Diaper Rash Ointment, 14 Oz Jar
$13.48 (as of January 5, 2025 19:18 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Sassy Stacks of Circles Stacking Ring STEM Learning Toy, Age 6+ Months, Multi, 9 Piece Set
$7.59 (as of January 5, 2025 19:18 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Boudreaux's Butt Paste Maximum Strength Diaper Rash Cream, Ointment for Baby, 2 oz Tube
$19.80 (as of January 5, 2025 19:18 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
