<em><strong>The FTM price action shows a consolidation range forming above $0.35, teasing a potential bullish reversal due to increased lower price rejection candles.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Fantom (FTM) price jumped 60% last month before consolidation above $0.35.</li>
 	<li>The market price approaches the support trendline, increasing the possibility of a bullish reversal.</li>
 	<li>With a market cap of $954 billion, the intraday trading volume of Fantom has increased by 2.34% over the last 24 hours.</li>
</ul>
<h3>Past Performance of FTM</h3>
As predicted <a href="https://www.cryptoknowmics.com/news/ftm-technical-analysis-is-this-ascending-triangle-breakout-possible" target="_blank" rel="noopener">earlier</a>, the bull cycle gives a bullish breakout of the ascending triangle pattern to rise above $0.35. The breakout rally exceeds the 100-day SMA but takes a lateral shift leading to a consolidation range with $0.38 as the resistance level. However, the growing number of lower price rejection candles displays an increase in underlying bullish sentiments.

<img src="https://s3.tradingview.com/snapshots/p/pKlc0JPa.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/pKlc0JPa/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>FTM Technical Analysis</h2>
The FTM technical chart shows that the consolidation range's bullish breakout can find opposition at the $0.43 mark. However, traders hoping for a bullish breakout should wait for a price action confirmation to avoid any bearish reversal.

As the Fantom market price sustains above the 100-day SMA, the 50-day SMA maintains a bullish trend that may prove crucial bullish support.

The daily-RSI slope maintains the sideways train in the nearly overbought zone slightly above the 14-day average line. However, the MACD indicator showcases a decrease in the bullish spread between the fast and slow lines, increasing the possibility of a bearish crossover.

In summary, FTM technical analysis suggests traders wait for a price action confirmation before trading on either side.
<h2>Upcoming Trend</h2>
If the FTM price trend breaks above $0.38, a price jump to the $0.43 mark is possible. This may increase the crossover possibility between the 50 and 100-day SMA.

However, a downfall below the $0.35 mark and the support trendline will result in a price drop to the $0.30 mark.

Resistance Levels: $0.38 and $0.43

Support Levels: $0.35 and $0.30

FTM Technical Analysis: Consolidation Above $0.35 Creates a Launchpad 

FTM technical analysis shows a consolidation range forming above $0.35, teasing a potential bullish reversal due to increased lower price rejection candles.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

FTM Technical Analysis: Consolidation Above $0.35 Creates a Launchpad

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