has been observed on the daily candle chartThe Fantom price has shown us a wonderful price action in the past sessions. The price had a wonderful rally that began from $0.20000 support on Oct 20, 2023 and made a first peak at $0.5550 by 2023 end, which dropped to $0.31454 support by January last week, 2024. From the $0.31454 price support level, the upsurge was giganticly large, which peaked at $1.21773 marke by March last week, 2024.
Thereafter, the price declined following a declining trendline and formed the next crucial support at $0.65729, where sellers tried three times to break the level, but buyers were strong, and it rose again until $0.95844. From the recent high of $0.95844, the price has built support at $0.52413 and is rising toward the trendline.
The analyst crypto rand also highlights on x Via a tweet post with a chart drawing in it that the FTM daily candle chart shows a solid setup overall as per the analyst (DYOR); the current bounce looks optimistic to the analyst for the future price sessions. His chart drawing suggests to traders and investors that the optimism in FTM could take its price towards the trendline resistance with less effort and, beyond that, could open the doors to capture the lost territories back.
Furthermore, it has been observed on the daily candle chart that the price has been seen bouncing back from the resistance turned support of the first peak, and here, buyers could be strong. Indicators also confirm the bullish suspicion as MACD shows a bullish cross, and RSI has been taking support from 14-SMA.
Therefore, if the price rises, then Fantom (FTM) could achieve targets like $0.77 and $0.92. However, if bearishness prevails beneath the $0.52413, then the resistance would be near $0.4400, and $0.30815.
