Technical Analysis:  Fantom Climbs Close to 10% Higher, While THETA Drops on Wednesday

Fantom was trading by astir 10% higher during Wednesday’s session, arsenic the crypto marketplace was marginally up. Despite this, determination were a fewer notable bears, THETA being 1 of them and was down by arsenic overmuch arsenic 5% earlier successful the session.

Biggest Gainers

Fantom was 1 of Wednesday’s biggest bulls, and was up adjacent to 10% earlier successful today’s session, cementing its spot arsenic the world’s 30th largest cryptocurrency.

Today’s rally successful FTM/USD came arsenic prices roseate from the semipermanent enactment of $1.51, and look acceptable to determination towards absorption of $2.30.

The terms of FTM roseate to an intraday precocious of $2.07 connected Wednesday, pursuing a debased of $1.78 little than 24-hours ago.

FTM/USD – Daily Chart

As of penning this, fantom was trading 9.57% higher, arsenic the 14-day RSI roseate to its highest level since January 31.

This emergence successful terms spot has besides seen the RSI determination person to its ain absorption constituent of 54.11, which is simply a stone’s propulsion distant from its existent constituent of 52.02.

From the chart, it appears that bulls person yet to liquidate positions, and could beryllium targeting higher highs from FTM.

Biggest Losers

Although it was not a reddish wave, determination were respective cryptocurrencies hovering successful the reddish during this hump-day session.

Following 2 consecutive days of gains, THETA turned bearish connected Wednesday, and arsenic of writing, is trading by implicit 2% little connected the day.

However, this was not today’s biggest loser, that grant went to FLOW, which arsenic of penning was down 3.10%.

FLOW/USD – Daily Chart

FLOW/USD deed an intraday debased of $6.36 connected Wednesday, pursuing an earlier precocious of $6.83, which was marginally supra the $6.80 absorption point.

Bears past entered this, successful a akin manner to the determination connected February 17, wherever the terms past dropped to the $5.35 floor.

If terms momentum continues to driblet off, bearish unit whitethorn increase, with the $5.35 level a realistic target.

Do you expect immoderate further drops successful FLOW? Let america cognize your thoughts successful the comments.

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