<em><strong>The FTM Technical Analysis highlights a falling wedge breakout threatening the bullish dominance at $0.20. Will the sellers crack under this level?</strong></em>

The FTM price action shows a high momentum bearish reversal within the falling wedge breaking below the support trendline. However, the breakout rally sustains above the $0.20 support level and displays buying pressure at $0.20. So, will this breakout rally continue to crash the Fantom market price?
<h3>Key Points:</h3>
<ul>
 	<li>The Fantom price action shows a power struggle at $0.20.</li>
 	<li>The lower price rejection in the daily candle holds the hope of a bullish reversal.</li>
 	<li>The intraday <a href="https://www.cryptoknowmics.com/news/why-trading-volume-matters-in-crypto-investment/" target="_blank" rel="noopener">trading volume</a> in Fantom is $103 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/4/4PAr6cJl.png" alt="FTM Price Chart" width="2474" height="1219" />

Source - <a href="https://www.tradingview.com/x/4PAr6cJl/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>FTM Technical Analysis</h2>
The FTM price action shows a falling trend within a bearish wedge pattern in the daily chart, with a highly influential resistance trendline. The bearish trend within the resistance trendline accounts for a price drop of 32% in the last seven weeks.

However, the recent bearish cycle within the falling wedge pattern finds an increase in selling pressure, evident by the spike in trading volume. Moreover, the price action displays the bear cycle breaking the support trendline and challenging the support level of $0.20.

Currently, the daily candle shows a 1.36% jump from the bottom support to retest the broken trendline.

If the selling pressure grows over the day, the Fantom market price will drop below the $0.20 mark and continue the downtrend. In such a scenario, the bearish trend will reach the bottom support level of $0.15, accounting for a drop of 25%.

However, if the lower price rejection in the daily candle propels the FTM market price higher above the resistance trendline, a trend reversal to $0.24 is possible.
<h2>Technical Indicators</h2>
The RSI indicator shows a declining trend in the nearly oversold zone as it crosses below the 14-day average line and approaches the oversold boundary. Moreover, the fast and slow lines signal a bearish crossover as they merge in the negative territory while the bullish histograms decline to the zero line.

Therefore, the FTM technical analysis suggests that traders can find a selling opportunity when the prices close below the $0.20 mark.

Resistance Levels - $0.24 and $0.30

Support Levels - $0.20 and $0.15

FTM Technical Analysis: Wedge Breakout Warns $0.20 Fallout

The FTM technical analysis highlights a falling wedge breakout threatening the bullish dominance at $0.20. Will the sellers crack under this level?

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: Wedge Breakout Warns $0.20 Fallout

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