During the sell-off last week, FTM prices crumbled 40% to showcase lower price rejection at $0.20, hinting at a morning star pattern formation. Key technical points: The market price has increased 9.68% over the past 24 hours. The price action shows a high likelihood of a bullish reversal from $0.20. The 24-hour trading volume of Fantom is $451 Million, indicating a hike of 15%. Past Performance of FTM The diagonally bullish rally in FTM after the reversal of $0.30 failed to sustain the uptrend due to the bear market picking up pace last week. The sudden increase in selling pressure drove the price under the $0.30 mark leading to the head and shoulder fallout rally as forecasted in our previous article. The downtrend takes support at the next support level of $0.20 and prepares a reversal to retest the breakdown of $0.30. Source- Tradingview FTM Technical Analysis FTM prices showcase a bullish reversal from the $0.20 with lower price rejection in daily candle and a boom in trading volume. This increases the chances of a morning star pattern formation as the buyers step back in. The MACD indicator shows a merger of fast and slow lines in the daily chart as the bullish histograms crush the zero line. However, the lack of growth in the bearish spread and the negative histograms brings a reversal opportunity for buyers to regain trend control. The RSI indicator shows an underlying bearishness, but the last two dips at $0.30 and $0...
