FANTOM – ALTCOIN CHART ANALYSIS

Fantom (FTM) is currently holding a key horizontal resistance. We have already been rejected several times on this one and are now trying to break out again.

We are currently trading at around $0.358. On the 4H chart, the RSI still has some room to climb to break this resistance and move higher, at least in the short term.

Because directly above it is the monthly resistance R1, which will become extremely important. This is around USD 0.39 and would mean a higher high at the same time and break the downtrend for the time being.

On the daily chart, it would be important if we break this resistance. However, the trading volume has decreased significantly. So we need an impulsive move up.

Furthermore, we are still in an uptrend. Thus, it would be desirable to bounce off the monthly resistance R1 and confirm the old resistance as support.

From here we could then rise to around USD 0.44 with renewed strong trading volumes. However, if the uptrend breaks before then, another correction can be expected, which could reach around USD 0.26.

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