With a morning star pattern, FTM buyers overtake the trend control within the descending channel. Will the reversal outgrow the bearish channel? 

Key technical points:
<ul>
 	<li style="font-weight: 400">The FTM prices have grown by 20% in the last 24 hours.</li>
 	<li style="font-weight: 400">The RSI slope surpasses the 14-day average.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Fantom is $647 Million, indicating a 6% hike. </li>
</ul>
<h2>Past Performance of FTM</h2>
FTM prices remain under tremendous bearish pressure as the downtrend continues in a falling channel pattern, accounting for an 87% fall. The recent downfall takes support at the descending trendline and forms a morning star pattern, a reversal pattern accounting for a 20% jump. 

<img src="https://s3.tradingview.com/snapshots/l/lc12NDrp.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/lc12NDrp/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>FTM Technical Analysis </h2>
<a href="https://www.cryptoknowmics.com/news/ftm-technical-analysis-multiple-trendlines-trap-ftm-buyers/">FTM</a> price action shows bullish commitment evidenced by the increased trading volume, but the bullish follow-through faces formidable selling pressure close to $0.44. This results in a higher price rejection and lowers the chances of an upside continuation.

The crucial daily EMAs maintain a bearish alignment and continue to descend lower, reflecting a high-momentum correction phase in motion. 

The RSI slope shows a bullish reversal within the oversold boundary but struggles to exit it. However, the indicator shows a substantial bullish divergence in the last two dips displaying a high trend reversal possibility.

The Stochastic RSI displays a high possibility of a bullish crossover as the K line prepares to cross above the D line inside the oversold zone. Hence, the lines might shortly announce the start of a new bull run.

Thus, the momentum indicators suggest a high likelihood of an uptrend but lack commitment due to decreased trading volume.

In short, the FTM technical analysis forecasts an uptrend continuation to the $0.50 mark.
<h2>Upcoming Trend</h2>
Considering the morning star pattern completes and pushes the FTM prices higher, a potential halt at $0.50 will start a new power struggle. A bullish breakout will result in a price jump to the psychological mark of $1, but a reversal will fuel a correction fall to the $0.20 mark.

Support Levels: $0.20 and $0.15

Resistance Levels: $0.50 and $0.75

FTM Technical Analysis: Will FTM See A Bullish Dawn Or Crack Under $0.20?

With a morning star pattern, FTM buyers overtake the trend control within the descending channel. Will the reversal outgrow the bearish channel? 

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: Will FTM See A Bullish Dawn Or Crack Under $0.20?

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