Hi guys I'm Come Back 😏
As you can see in the chart, Phantom Digital Currency (FTM) performed exactly as we expected. In the previous technical analysis of this cryptocurrency, we mentioned that the price has activated sell orders (SELL) by the traders by hitting the resistance area of $0.35 and driving the price to lower levels.
Also, the price entered the correction phase, which lasted until the Fibonacci line of 0.382. After the price correction, FTM was able to stabilize above $0.30 and easily reach and cross the $0.38, $0.40 and $0.42 targets.
Currently, the price has reacted to the resistance zone of $0.50 (Bearish zone). There are 2 scenarios with more probability.
1. The first scenario is predicted that due to the existence of a lot of liquidity above the resistance zone (Bearish zone), the price will have a short growth above this zone and by collecting its liquidity, it will enter the correction phase again and fill the yellow area of FVG. (FVG area: price gap or price imbalance)
2. The second scenario (less likely) enters the correction phase without collecting liquidity and enters the yellow zone of FVG.
Arztoday Team 💙
Analyzer ✍: AR.Rashidi
As you can see in the chart, Phantom Digital Currency (FTM) performed exactly as we expected. In the previous technical analysis of this cryptocurrency, we mentioned that the price has activated sell orders (SELL) by the traders by hitting the resistance area of $0.35 and driving the price to lower levels.
Also, the price entered the correction phase, which lasted until the Fibonacci line of 0.382. After the price correction, FTM was able to stabilize above $0.30 and easily reach and cross the $0.38, $0.40 and $0.42 targets.
Currently, the price has reacted to the resistance zone of $0.50 (Bearish zone). There are 2 scenarios with more probability.
1. The first scenario is predicted that due to the existence of a lot of liquidity above the resistance zone (Bearish zone), the price will have a short growth above this zone and by collecting its liquidity, it will enter the correction phase again and fill the yellow area of FVG. (FVG area: price gap or price imbalance)
2. The second scenario (less likely) enters the correction phase without collecting liquidity and enters the yellow zone of FVG.
Arztoday Team 💙
Analyzer ✍: AR.Rashidi
