FTM Technical Analysis: FTM Buyers Under Bearish Chokehold

FTM coin price faces a constant rise in supply near the resistance trendline resulting in a high likelihood of the $1.25 fallout. Key technical points: FTM prices have increased by 1.2% in the past 24 hours. In addition, 200 and 100-day EMA are ready for a bearish crossover. Finally, the 24-hour trading volume of Fantom is $415 Million, marking a 38% fall. Past Performance of FTM FTM coin price faces a constant dynamic rejection from the descending resistance trendline in the daily chart. The downtrend under the trendline influence brings the death cross and pushes the prices back to the $1.25 mark. The downtrend accounts for a 48% fall in the past months. Source-Tradingview FTM Technical Analysis FTM coin price forms multiple bearish candles from the $1.65 mark resulting in a fall of 22% earlier this week. However, the bullish candles with minimum range reflect the bottom creation. The surge in selling pressure influences a downtrend in the daily EMAs, increasing the chances of 100 and 200-day EMA. Moreover, the recent failure to sustain above the 50-day EMA indicates a higher supply present above the EMA. RSI Indicator: The RSI slope plunges under the confluence of the halfway mark and the 14day average in the recent bearish reversal from the resistance trendline. Hence, the indicator represents the high possibility of a downtrend continuation below $1.25. MACD Indicator: The MACD and signal lines join at the zero line and g...