Fantom was trading by almost 10% higher during Wednesday’s session, as the crypto market was marginally up. There were some notable bears in this session, THETA being the first. It was even down as much as 5%.
The biggest gainers
Fantom was one of Wednesday’s biggest bulls, and was up close to 10% earlier in today’s session, cementing its place as the world’s 30th largest cryptocurrency.
Today’s rally in FTM/USD came as prices rose from the long-term support of $1.51, and look set to move towards resistance of $2.30.
FTM’s intraday price rose to $2.07, after a $1.78 lower than 24 hours ago.
At the time of writing this article, fantom was trading 9.57% more, while the 14 day RSI had risen to its highest point since January 31.
This rise in price strength has also seen the RSI move closer to its own resistance point of 54.11, which is a stone’s throw away from its current point of 52.02.
The chart shows that bulls are not yet ready to sell their positions and may be aiming for higher highs at FTM.
Biggest Losers
It was not a red-wave, but there were many cryptocurrencies that hovered in the red throughout this one-day session.
TheTA gained for two consecutive days and then turned bearish. As of Wednesday’s writing, it is down by more than 2%.
However, this was not today’s biggest loser, that honor went to FLOW, which as of writing was down 3.10%.
FLOW/USD reached an intraday low at $6.36 Wednesday. This was after an earlier high of $6.83 on Wednesday. It was slightly higher than the $6.80 resistance mark.
Bears were then allowed to enter this area, following a move similar to that of February 17. The price fell to $5.35.
Bearish pressure could increase if price momentum does not stop falling, making the $5.35 floor an achievable target.
Are you expecting any more drops in FLOW Please share your views with us in the comments.
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