Fantom is a highly scalable blockchain platform for DeFi, crypto dApps, and enterprise applications.
FTMUSD holds above $0.50 after a minor consolidation.
Any close above $1.25 confirms further bullishness.
FTMUSD trades in a narrow range between $0.5346 and $0.3574 for the past three weeks. The pair holds well above the short-term (34 and 55 EMA) and long-term moving average. It hit a high of $0.5267 and is currently trading around $0.5157.
The bullish invalidation can happen if the pair closes below $0.20. On the lower side, the near-term support is $0.40. Any break below targets $0.35/$0.25/$0.20.
The immediate resistance stands at around $0.5255 (200-day EMA). Any close above confirms a minor pullback. A jump to $0.625/0.855 is possible. A surge past $0.85 will take FTM to $1.
It is good to buy on dips around $0.48 SL around $0.40 for TP of $0.85/$1.
