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Cryptoknowmics 2022-04-01 03:09:44

Fantom in a BB Squeeze, will FTM Break above $1.50?

Fantom is in a tight BB squeeze at spot rates. With upbeat traders, FTM bulls may edge past $1.50, springing back to March 2022 highs in a bullish continuation pattern. Past Performance Fantom prices are relatively stable at spot rates, moving inside a tight range despite buyers being in control from a top-down perspective. Overall, FTM appears to be inside a rising BB squeeze with support at the 20-day moving average as buyers attempt to diffuse selling pressure. FTM traders may search for entries on dips above $1.30, angling for a recovery towards $2.1 in the medium to long term at spot rates. Fantom Technical Analysis Buyers are in the driving seat at spot rates. Following the formation of the bullish engulfing bar of March 15, FTM prices have been printing higher. With the bullish trend valid at spot rates, traders may load on dips above $1.30 and the middle BB. On the reverse side, risk-averse traders can wait for a comprehensive close above this week’s high at $1.50. The immediate target, as aforementioned, will be $2.1—flashing with March 2022 highs. Conversely, sharp losses below the flexible support backed by relatively high trading volumes may see the token dump back towards $1 in a bear trend continuation pattern. What to Expect from Fantom? Fantom is a well-developed DeFi ecosystem. As it grows, FTM would edge higher. Technically, a close above $1.50 would likely draw demand, pushing FTM higher in the immediate to ...

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Fantom in a BB Squeeze, will FTM Break above $1.50?

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