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The Fantom market is now on a quest to continue the bullish trend that was cut short by the bears on November 8 and 9. The aggressive bearish move of November 8 and 9 seems to be a general trend across the crypto industries. Before the general downturn of price across the most crypto market on those days, the price of Fantom was on a retracement after the market enter the overbought zone. After the massive selling which makes the price fall drastically, a quick counterattack from the bulls on November 10 failed to advance the price beyond the new lower resistance level of $0.206.
Fantom Classic Market Price Statistic:
- FTM/USD price now: $0.239
- FTM/USD market cap: $631,008,496
- FTM/USD circulating supply:2.55Billion
- FTM/USD total supply: 2,545,006,273
- FTM/USD coin market ranking: #62
Key Levels
- Resistance: $0.23, $0.30, $0.35
- Support: $0.20, $0.15, $0.10
Fantom Market Price Analysis: The Indicators’ Point of View
After the bullish attempt on November 10 failed to take the price beyond the resistance level, the market went into a period of price consolidation. The Bollinger indicator portrays the climax of the intensifying struggle between the buyers and the sellers on November 26 and 27 by briefly narrowing the bands. And after the struggle reaches the point of deadlock, the buyers gain the upper hand with a very significant bullish price breakout.
FTM/USD 4-Hour Chart Outlook
From this smaller timeframe, we can see that the bulls are still showing signs of vigour and they are ready for more actions even though (for the time being) they struggle with bearish pressure as they approach the $0.25 price level. Even though the RSI line indicates the pullback of the price because it entered the overbought zone, the bull market still holds good prospects for the continuation of the trend and the next stop may be the $0.3 price level.
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