How To Use Candlestick Charts For Analyzing Fantom (FTM)

Use of canaly graphic to analyze Fantom (FTM)

Candella graphics are are a powerful tool in technical analysis and you analyzing cryptocurrencies so Fantom (FTM), they cany fantom. In this article, we will explore How to thee graphs of the canalyze thealze

What is Fantom?

Fantom (FTM) is a blockchain over source, decentralized and compleely transparent platform that allows trians, record and safe and transactions. It is funded in 2017 by a team of developers from the Ethereum communion, with the aim of crating a life alternative to Bitcoin.

Understanding of the Candelabra rankings

How to Use Candlestick

Canandla graphics are graphic of the repressions of the time of the time. Each candle represents a singles the trading day, with two Main types of Candles: Upcandles (green) and downcanandles (red). The Color of the Candlestick indicades the dirction of the lifemoment:

Green = upper tendency

Red = Trend downwards

Use of canadelacia graphs toalyze Fantom

Here are some key points to consister wen using canalyze Fantom:

TIME LASS

: Chose a period of time suitable for you analysis needs, such as 4 -hour candles, 1 day or 5 days.

Recognition of the Canandelario Pattern : Familiaring with the Fathers of the Common Candles on the Fantom blockchain, incling:

* Hammer

* Shooting Star

* Ungulfing bullish

* Engulfing Bearish

3 It been observe that Fantom’s 14 -day RSI is slightly hyper -compared in recental times, humgesting a potential.

– (historic maximums).

5.*
COMMMENTAL MARCH : Fuck of the Movements can be bear volatile, so it is essentially to a caution duuring. Take into the consideration thee of the stop-performance objectives and according to alilysis.

Compare without this cryptocurrencies : analyzes Fantom’s performance compared to other cryptocurrencies on the market, soch as Litecoin (LTC).

Example of use case:

Let’s saly are a trader for locker optunities to some Fantom at $0.75- $1.00 and sell $2.50- $3.00. Using the candle graphics, you canntify theify:

A bullish hammer with a hight volume of purchase of approximately $ 0.80 (which indicades a strong demand)

A bearish deception with a light volme of salivities aroound $1.20 (which indicials a weak pressure of ther)

Support levels: $0.75- $0.85 and resistance levels: $2.00- $2.10

RSI IperComprato at 70 years of ages, indicating a potential reversal

Conclusion*

Canandla graphics can be a powerful tool toalyze By understanding the Key models of candels and use relative resistance indies (RSI) to evaluate the momentum, the trading decisionson the purchase and sale Fantom. Remembers to elways through caution and tolysis wheth, that cryptocurrencies on the market.

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