Technical Prognosis:  Fantom Climbs End to 10% Better, While THETA Drops on Wednesday

Posted by

Technical Analysis:  Fantom Climbs Close to 10% Higher, While THETA Drops on Wednesday

Fantom became once shopping and selling by practically 10% elevated at some stage in Wednesday’s session, because the crypto market became once marginally up. No matter this, there had been just a few valuable bears, THETA being one in every of them and became once down by as mighty as 5% earlier in the session.

Greatest Gainers

Fantom became once one in every of Wednesday’s biggest bulls, and became once up discontinuance to 10% earlier in this day’s session, cementing its field because the enviornment’s 30th biggest cryptocurrency.

At present’s rally in FTM/USD got right here as costs rose from the lengthy-term give a boost to of $1.51, and gaze situation to cross towards resistance of $2.30.

The worth of FTM rose to an intraday excessive of $2.07 on Wednesday, following a low of $1.78 lower than 24-hours in the past.

Technical Analysis: Fantom Climbs Close to 10% Higher, While THETA Drops on Wednesday
FTM/USD – Day-to-day Chart

As of writing this, fantom became once shopping and selling 9.57% elevated, because the 14-day RSI rose to its best most likely level since January 31.

This upward push in trace strength has furthermore seen the RSI cross nearer to its hold resistance level of 54.11, which is a stone’s throw away from its most peaceable level of 52.02.

From the chart, plainly bulls hold yet to liquidate positions, and ought to restful be focusing on elevated highs from FTM.

Greatest Losers

Even though it became once no longer a red wave, there had been several cryptocurrencies hovering in the red at some stage in this chase-day session.

Following two consecutive days of beneficial properties, THETA develop into bearish on Wednesday, and as of writing, is shopping and selling by over 2% lower on the day.

Alternatively, this became once no longer this day’s biggest loser, that honor went to FLOW, which as of writing became once down 3.10%.

Technical Analysis: Fantom Climbs Close to 10% Higher, While THETA Drops on Wednesday
FLOW/USD – Day-to-day Chart

FLOW/USD hit an intraday low of $6.36 on Wednesday, following an earlier excessive of $6.83, which became once marginally above the $6.80 resistance level.

Bears then entered this, in a identical vogue to the cross on February 17, the assign the trace then dropped to the $5.35 ground.

If trace momentum continues to fall off, bearish stress would maybe maybe well furthermore lengthen, with the $5.35 ground a pragmatic plan.

Accomplish you anticipate any further drops in FLOW? Allow us to know your thoughts in the comments.

eliman@bitcoin.com'

Eliman Dambell

Eliman brings a assorted level of leer to market prognosis, having labored as a brokerage director, retail shopping and selling educator, and market commentator in Crypto, Shares and FX.

Technical Analysis: AVAX, WAVES and Near Trade Over 20% Higher on Tuesday

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions exclusively. It’s no longer an instantaneous supply or solicitation of a advice to gain or promote, or a advice or endorsement of any products, products and services, or companies. Bitcoin.com would no longer provide investment, tax, generous, or accounting advice. Neither the corporate nor the creator is responsible, straight or no longer straight, for any damage or loss led to or supposed to be introduced on by or in connection with the usage of or reliance on any speak material, items or products and services talked about listed right here.