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

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. Past Performance of FTM 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. FTM/USD Daily Chart FTM Technical Analysis 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 a...