MATIC’s Fresh All-Time High and Fantom’s Bullish Price Action: Next Vital Price Levels

By victoria
December 27, 2021 Updated December 27, 2021
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MATIC's Fresh All-Time High and Fantom's Bullish Price Action: Next Vital Price Levels

This year has been over-optimistic for certain coins; Polygon and Fantom have topped that list. With MATIC securing a fresh all-time high, Fantom also continues to eye higher resistance levels. MATIC soared around 30% in the last week while Fantom gained a whopping 62% in that same time frame.

At press time, MATIC was trading at $2.83 while Fantom was priced at $2.62. The trading volume of these coins dipped, indicating low market liquidity, which also signifies volatility in the market.

MATIC/USD Four-Hour Chart

MATIC's Fresh All-Time High and Fantom's Bullish Price Action: Next Vital Price Levels

Matic had formed an ascending triangle, and soon the coin broke above it. The coin was priced at $2.83 with an immediate resistance at the $3 mark at press time.

The digital currency had breached support lines after the other and secured robust support at $2.06. This powerful price rally that Matic has exhibited could cause the coin to test the immediate resistance and stay above the $2 mark by the end of this year.

The technicals of the coin have reflected bullishness; however, the chances of a corrective pullback owing to higher volatility cannot be ruled out.

The Relative Strength Index was just below the overbought line as buyers exhibited a steep increase in numbers. The On Balance Volume too depicted falling selling pressure in the market. Awesome Oscillator displayed amplified green signal bars as the coin was highly bullish.

FTM/USD Four-Hour Chart

MATIC's Fresh All-Time High and Fantom's Bullish Price Action: Next Vital Price Levels

Fantom was trading within an ascending trendline while up by above 60% in the past week. Immediate support level in case of a reversal rested at $2.11. If the uptrend continues to hold this momentum, the coin will trade above the $2 mark at the end of December.

The overhead resistance stood at $2.63, toppling over, which could push FTM to trade near the $3 price mark. The bulls seemed charged from the near-term technicals.

On Balance, Volume registered a climb as buyers re-entered the market since December 20. The Relative Strength Index was above the 80-mark, which meant that the coin was overbought and overvalued owing to a massive rally.

However, the Directional Movement Index indicated that the current market trend was strong as the Average Directional Index was way above the 40-mark, along with which the +DI had crossed over the -DI line indicating a bull run.

Victoria is a Nigerian journalist and entrepreneur with a background in Communications. She's interested in writing about Cryptocurrency, Blockchain and Humans. She owns a tad bit of BTC and ETH and her favorite thing to do is sit by the ocean listening to Beyoncé.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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