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How To Use Candlestick Charts For Analyzing Fantom (FTM)

Use of candle graphics to analyze Fantom (ftm)

Candle graphics are a powerful tool in technical analysis, and when it comes to analyzing cryptocurrencies such as Fantom (FTM), they can be particularly useful. In this article we will examine how to use candle graphics to analyze the Fantom cryptocurrency.

What is Fantom?

Fantom (FTM) is an open source blockchain platform, decentralized and completely transparent, which enables fast, low and safe transactions. It was founded in 2017 by a team of Ethereum community developers to create a scalable and more efficient alternative to Bitcoin.

Understand candle graphics

Candle graphics are graphic representations of price movements over time. Each candle represents a single session of the commercial day with two main types of candles: upcandles (green) and offspring (red). The color of the candelabro shows the direction of the price movement:

  • Green = ascending trend

  • Red = descending trend

Use of candle graphics to analyze fantom

Here are some important points that must be taken into account when using candle graphics for the analysis of Fantom:

  • Zeit frame : Choose a time frame that adapts to your analysis requirements, e.g. B. 4 -hours -candles, 1 day or 5 days.

  • Detection of candle patterns : familiarize yourself with common candlesticks in the Fantom block chain, including:

* Hammer

* Fluza star

* Bullish erofing

* Gublo Fofing

  • The Fantom Relative Force Index (RSI) : The RSI is an impulse indicator that measures the strength of a trend. It has been observed that Fantom’s 14 -day -rsi has recently been slightly exaggerated, which indicates a possible reversal.

  • Support and resistance : Identify the most important support levels of $ 0.75 to 1.00 (current price range) and resistance levels around $ 2.50 to $ 3.00 (historical maximum).

  • Caution Trade

    : Fantom price movements can be quite volatile, so it is important to be careful when trading. Take into account the use of stop losses and the goals of taking profit depending on your analysis.

  • Compare with other cryptocurrencies

    How to Use Candlestick

    : Analyze the performance of Fantom with regard to other cryptocurrencies on the market, such as Ethereum (ETH) or Litecoin (LTC).

Example application:

Suppose he is a dealer who is looking for the opportunity to buy a fantom for $ 0.75 to 1.00 and sell it for $ 2.50 to USD 3.00. With candle graphics you can identify the following:

  • A bullish hammer pattern with a high volume of the purchase activity of around 0.80 US dollars (which indicates a strong demand)

  • A bearish packaging pattern with a small amount of sales activities of around 1.20 USD (which indicates a weak seller pressure)

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

  • Rsi overwhelmed at the age of 70, which indicates a possible reversal

Diploma

Candle graphics can be a powerful tool to analyze the Fantom cryptocurrency. By understanding the most important patterns of candles and the use of relative work indices (RSI) To measure the impulse, dealers can make more and more well -founded decisions about the purchase and sale of Fantom. Remember to always use caution when trading and compare your analysis with the other cryptocurrencies on the market.

Additional resources

  • [Fantom Blockchain -Documentation] (

  • [FTM Coingcko Price Grafik] (

  • [Cryptoslate Trade Guide: Fantom (ftm)] (

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