- The FTM crypto has advanced by more than 40% since the breakout.
- Fantom crypto has been trading with a flat volume for the last 24 hours.
The spot trading volume of the crypto has advanced by 41.14% in the last 24 hours followed by an advance of 9.59% in the market cap. This has resulted in a market cap of $710.958M followed by a volume/market cap ratio of 15.38%.
The circulating supply of the crypto is 2.803B FTM resulting in a fully diluted market cap of $805.042M. The total supply of the crypto is 3.175B FTM and the max supply of the crypto is the same as the total supply.
As per Coingecko, the market cap rank of FTM crypto is #66. Also, the market cap dominance of the crypto is 0.052% followed by a volume/market cap ratio of 0.1889.
FTM Derivatives Analysis
Fantom crypto derivatives data has reported a huge short liquidation of $321.38K against the long liquidation of $72.04K. The derivatives trading volume for the crypto has advanced by 29.87% following an advance of 9.51% in the open interest. The following data suggest that the buyers are dominating the FTM crypto price.
FTM Crypto Technical Analysis
After consistently declining from higher levels and losing its value by more than 50%, the crypto was trading in a falling wedge pattern for a long time.
Based on the most recent activity of the crypto, it has broken out above the falling wedge pattern. After the breakout, the FTM crypto has advanced by more than 40%. The crypto price is still in an uptrend making bullish candlesticks.
The 50-day and the 200-day EMA are following a death cross on the charts while the price has advanced above the 50-EMA. It is currently trading at a 200-day EMA.
The RSI for the crypto on the daily timeframe is also bullish trading at a level of 72.72. This further indicates a buying signal in the crypto.
Conclusion
The derivatives data of the FTM crypto is supporting a bullish move. The technicals of the crypto are also bullish and might hit higher levels in the upcoming days. Thus, if the FTM crypto breaks above the 200-day EMA in the upcoming days, it can lead to further higher levels hitting the resistance levels.
Technical Levels
- Support levels– $0.1650 and $0.2175
- Resistance levels– $0.3225 and $0.3917
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
