The FTM coin price breaks above $2.5 with the new rise in underlying bullishness and aims to reach above the previous high of $3.15.

Fantom explores a brand new consensus mechanism built from scratch to allow DeFi and other related services using smart contracts.

Lachesis, the underlying mechanism behind Fantom, is promising more capacity and two-second transaction completion, as well as enhancements to security over the traditional proof-of-stake (PoS) algorithms-based platforms.

Let us move ahead to read about FTM technical analysis.
<h2>Past Performance of FTM</h2>
FTM coin price finds a new rise in underlying bullishness near the support zone at $2. The price jumps more than 25% in the past 72 hours and results in a bullish and engulfing candle and a follow-through candle. The price action shows a sudden V-shaped recovery that reflects a bullish recoil against the bloodbath.

<img src="https://s3.tradingview.com/snapshots/q/QgTWRvbJ.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/QgTWRvbJ/">FTM/USD Daily Chart</a>
<h2>FTM Technical Analysis</h2>
The FTM coin price shows lower price rejection after the rise from the support zone at $2. Moreover, the breakout of the resistance level at $2.5 increases the possibility of a price jump to $3.

The crucial EMAs (50, 100, and 200) show a bullish alignment as the price rises above all the daily EMAs. Moreover, the 20-day EMA gives a bullish crossover with the 50 and 100-day EMAs. 

The RSI indicator at 60% shows the slope rising higher after making a double bottom near the central line. However, the slope is yet to rise above the 14-day SMA, which will mark a solid bullishness in action.

The MACD indicator shows a sharp reversal as it crosses the slow line to undermine the recent bearish crossover. The same reversal is seen in the histograms. Therefore, the bulls overtake the technical indicators.

The FTM price action indicates a resistance pivot level at $3 and $3.25. The support levels are at $2.60 and $2.35 which can halt the downfall.
<h2>Upcoming Trend</h2>
The jump in the <a href="https://www.cryptoknowmics.com/news/ftm-technical-analysis-post-breakout-uptrend-soon-to-reach-3/">FTM</a> coin price and the rise in underlying bullishness show a high possibility of a bull run to $3. Moreover, the lower price rejection and the bullish crossover increase the overall bullish attention for the coin.

Therefore, traders can observe the coin price rise even above $3 and continue the bull run to $3.5.

FTM Technical Analysis: Increasing Buying Pressure Soon To Create New Heights

FTM technical analysis shows the coin price breaking above $2.5 with a new rise in underlying bullishness and aiming to breach the previous high of $3.15.

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: Increasing Buying Pressure Soon To Create New Heights

Top Picks