Fantom: Where you can consider going long on FTM and why

ambcrypto.com:

Fantom’s (FTM) price action has looked rather bumpy over the last 30 days. After breaking out of its four-month down-channel, the sellers quickly halted the rally as the price pulled back toward the $0.18-mark.

On the charts, the alt faltered at the $1.6-resistance. However, there seemed to be some near-term revival potential if it sustains a close above the median (red) of the Pitchfork. At press time, FTM traded at $1.2105, up by 4.51%in the last 24 hours.

Source: TradingView, FTM/USDT

The bears have not been disappointed in the FTM’s recent trajectories. A sustained downwards pressure forced the price to fall below the daily 20/50/200 EMAs.

Since the alt nosedived from $2.1, the bulls finally found their ground at the $1.03-mark. The digital currency lost nearly 50% of its value (from 2 March) and hit its six-month low on 15 March. Since then, the 200 EMA (green) shunned the recent bullish resurgence. 

Now, the median of the Pitchfork could play a vital role in determining FTM’s further movements. A close below this level would cause a further pullback towards its seven-month $1.03 support. But if the bulls pull off a strong close above this level, the alt would likely be on its way to retest the POC. But since the 20 EMA still looked south, the $1.2-$1.3 zone would continue posing barriers in all bullish endeavors.

Source: TradingView, FTM/USDT

The Relative Strength Index saw a consistent growth on its troughs while the sellers restricted its oscillation below the mid-line. The buyers must overturn the 44 resistance to open up recovery gates beyond the $1.2-zone.

Over the past three weeks, the OBV maintained its flatter support whilst the price action steeply plunged. Thus, revealing a rather weak bullish divergence. This