Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

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Alright, let's get straight into the discussion, Happy reading!!

Fantom (FTM) Analysis

Today, January 23, 2024, I will try to technically analyze Fantom's price movement.

SOURCE: TradingView

If we look at the price movement of FTM in general, we can see that FTM is in an intense bearish phase. We can see this in the FTM price movement pattern in the chart above where the candlestick tends to move downwards if we look closely.

SOURCE: TradingView

This is confirmed by the EMA Indicator with a Death Cross occurring between the 100 EMA and 200 EMA.

SOURCE: TradingView

But the ADX indicator gave another confirmation with the presence of a cross between the two DI lines where the DI- the line started to move below the DI+ line.

SOURCE: TradingView

Not to forget, the RSI indicator also shows that there is an oversold phase in the FTM/USD market is over, this can be proven by the movement of the RSI line above the Lower Band which is the lower limit of the RSI indicator.

Disclaimer: