FTM Technical Analysis: Breakout Rally Loses Momentum, Teasing Retest

FTM prices find unexpected bullish support evident by the boom in trading volume resulting in the falling channel breakout. Will this rally surpass $0.50? Key technical points: FTM prices are up by 0.50% today. The uptrend breaks above the falling channel pattern. The 24-hour trading volume of Fantom is $666 Million, indicating a slight increment of 1.31%. Past Performance of FTM FTM prices display a reversal uptrend starting from the $0.40 mark, resulting in a trendline breakout fueling the price rise towards $0.50. The bull run also breaks above the falling channel pattern, releasing the trapped bullish momentum. However, last night the bullish failure led to the Doji formation reflecting a potential retracement to retest the broken trendline. Source-Tradingview FTM Technical Analysis The bullish reverse of FTM starting with $0.40 includes the trading volume support that was able to counter the volume from the previous bearish trend. However, the more costly price refusal of the threshold of $0.50 attempts to sabotage the breakout. Thus, price action traders need to remain patient and hold off until they reach a close to avoid being stuck. The most important EMAs for the day indicates a tendency to fall, which is the bearish trend that shows the strength of the bearish underpinning. The RSI values make an abrupt turn away from the zone of oversold and then cross the average line of 14 days before entering the mid-point. But,...