On Friday (January 14), crypto research startup Delphi Digital looked at how $FTM has performed against $ETH and $USDT over the past six months. The research firm pointed out that: $FTM’s price action suggests that it is on the verge of a breakout. Although “TVLs across crypto have stagnated”, Fantom’s TVL is up 20% over […]

Crypto research firm Delphi Digital thinks a blockchain platform designed for decentralized finance (DeFi) could be the next major player among layer-1 scaling solutions. In its Delphi Daily tweets offering updates and insights about the crypto space, the firm tells its 103,700 followers that Fantom (FTM) is defying an industry-wide downtrend by racking up an […]

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Bitcoin and Ethereum turned out to be dreary over the past six months since DeFi tokens have been gaining the majority of the traction. Especially Luna, AVAX, and FTM outperformed the market leaders over the past couple of months with whopping gains in price and TVL.  The aforementioned tokens have also registered significant milestones in …

At the time of writing, crypto is entering a bear market as Bitcoin, Ether and most Layer-1 altcoins have dipped 20-30% from its all-time-highs.

The post The key drivers behind Fantom’s recent price rally appeared first on CryptoSlate.

The year is just starting, but cryptocurrencies are moving boundaries and reaching new all-time…

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FTM coin price action hints at an inverted head and shoulder breakout and $3.16 level, which will help in the creation of a new all-time high. Fantom is a directed acyclic network (DAG) smart contract software platform that provides decentralized finance (DeFi) services for developers through its own custom consensus algorithm. Along with its own currency FTM, Fantom aims to address the issues associated with smart-contract platforms, including the speed of transactions. Developers claim they have reduced it to less than two seconds. Let us move ahead to read about Fantom technical analysis. Past Performance of FTM FTM coin price shows a rise of more than two-fold within a month, with the demand found near $1.25. Moreover, the price has grown 40% in the past four days after the recent dip to the 50-day EMA. Moreover, the price breaks above the $3 psychological mark, indicating growth in overall bullish sentiment for the coin.  FTM/USD Daily Chart FTM Technical Analysis The FTM coin price jump results in the breakout of an inverted head and shoulder pattern in the daily chart. Therefore, a breakout of $3.16 can drive the rally higher to create new all-time high levels. The crucial EMAs (50, 100, and 200) maintain a bullish alignment with the 50-day EMA providing dynamic support to the short-correction phases. Moreover, the lower price rejection in the recent daily candles insinuates a bull run above $3.16. The RSI indicator at 64% flattens after the crossover, with the 14-day SMA slightly below the overbought zone. Moreover, the SMA resembles a similar action, but the lines remain in the nearly overbought zone. The MACD indicator shows the MACD and signal lines reverses after the bearish crossover and gives a bullish crossover in the daily chart.  Therefore, the long-tail formations reflect solid lower price rejection in the FTM coin prices and increase the chances of a rally above $3.16.  Upcoming Trend The breakout of the inverted head and shoulder will increase the overall bullish activity in the FTM coin. Therefore, the breakout of $3.16 seems imminent and will drive the prices higher to $3.5. The price action suggests resistance levels at $3.5 and $3.75 that can oppose the uptrend if the prices break the barrier at $3.16. The high demand levels are at $2.6 and $2.2, which can support the falling prices if it fails to rise above $3.16. In conclusion, the current rally seems to be solid and can overcome the high selling pressure areas. Therefore, traders can hold or even increase their position size.

The post FTM Technical Analysis: Bullish Pattern Teases a Rally to Create New All-Time High: Is It Too Risky To Join The Rally? appeared first on Cryptoknowmics-Crypto News and Media Platform.

Several layer one blockchains are firmly in the green, despite the wider crypto market falling to start the new year.