The price fluctuations
The buying pressure in the weekly timeframe caused a temporary break of the $0.50 range. But price stabilization has not been observed in the weekly timeframe above this area. 5 consecutive weekly candles and breaking the previous static resistance levels is a very strong sign for the continuation of this movement after the correction. After the price of Fantom entered the corrective wave, the first important support is located in the range of $0.36-$0.38, where we expect a positive swing from this range.
But the second support of FTM is considered in the range of $0.278 to $0.320. This support level is an important supply and demand range in daily time, which has the potential for a stronger positive reaction. Its trend in the 4-hour timeframe is bearish, for which we can consider a bearish channel. The continuation of price fluctuations in this range is expected.
But the second support of FTM is considered in the range of $0.278 to $0.320. This support level is an important supply and demand range in daily time, which has the potential for a stronger positive reaction. Its trend in the 4-hour timeframe is bearish, for which we can consider a bearish channel. The continuation of price fluctuations in this range is expected.
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