As of February 19, 2021, the opening price of FTM was $0.21. As of February 24, 2021, FTM closed at $0.65. Thus, the Fantom (FTM) price has surged by approximately 210%. As per recent news, the reasons for this phenomenal price surge are:- Fathom collaboration with Yearn Finance to develop a cross-chain bridge to ETH. A distinct governance mechanism that allows token holders to actively participate in the FTM blockchain ecosystem. Fathom’s plans to offer both staking and DeFi features on its blockchain network. In the past 24 hours, FTM has been trading between $0.47-$0.70. https://ift.tt/3qUhVcP How Days Ahead Look for FTM Today, FTM opened at $0.65. Currently, FTM is trading at $0.68. Thus, the price is rising. The A/D indicator is upward sloping. This is indicative of high buying activity in the FTM market. Whale accumulation is much higher than whale distribution. Thus, the FTM market looks positive. The FTM price will continue to go up. Presently, the RSI is at 57%. An hour back, it was treading in the ‘overbought’ region. Thereafter, it started falling. Buying pressures are still high but slowly selling pressures are also mounting. A brief price pullback may occur as a part of the price correction process. The MACD and signal lines are positive. The overall market momentum is bullish. But, a bearish crossover by the MACD line over the signal line indicates a temporary price pullback within the broader bullish trend. The ADX indicator is volatile. Currently, it is falling. This means the market is losing breath often. The bullish trend is weakening intermittently. In short, there is a tussle between bulls and bears in the market. Price Levels to Watch Out The current price is well above the Fibonacci pivot point of $0.61. It may breach the first Fibonacci pivot resistance level of $0.69, in some time. By the end of the day, we can expect the price to close above the second Fibonacci pivot resistance level of $0.75. The price may test the 23.6% FIB retracement level of $0.64 before rallying again, as the indicators have pointed towards a price pullback. But, since the overall trend is positive, we can expect the bull-run to continue tomorrow as well.
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