The cryptocurrency market has carried out effectively over the weekend, with the overall market cap now above $1.3 trillion once more.
The cryptocurrency market is having a constructive begin to the brand new week. The broader market has added greater than 1.3% to its worth within the final 24 hours and the overall market cap now stands above $1.3 trillion.
Bitcoin is as soon as once more buying and selling above $30k per coin after including 1% to its worth to this point immediately. Ether can also be buying and selling above the $2k threshold after including 2% to its worth within the final 24 hours.
Nevertheless, FTM, the native token of the Fantom ecosystem, is the very best performer amongst the highest 50 cryptocurrencies by market cap immediately. FTM is up by greater than 14% within the final 24 hours.
The rally could be attributed to the adoption information the Fantom group recorded over the weekend.
Over the weekend, the Fantom group announced that blockchain information indexing protocol Unmarshal has built-in Fantom. The adoption additionally meant that Fantom is now built-in into the Unmarshal aggregated blockchain explorer Xscan, with portfolio monitoring performance coming quickly, the Fantom group added.
Key ranges to look at
The FTM/USD 4-hour chart is at the moment bullish as Fantom has been performing effectively in current days. FTM is up by greater than 38% within the final seven days, making it one of many high performers amongst the main 50 cryptocurrencies by market cap.
The MACD line crossed into the constructive territory, indicating bullish momentum. The 14-day relative energy index of 71 exhibits that FTM may quickly enter the overbought area.
At press time, FTM is buying and selling at $0.4887 per coin. If the rally continues, FTM may surge previous the primary main resistance stage at $0.5987 earlier than the top of the day. Nevertheless, the resistance stage at $0.7763 ought to cap additional upward motion within the quick time period.
If the bears regain management of the market, FTM may slip beneath the $0.400 assist stage earlier than the top of the day. Nevertheless, it ought to comfortably defend the $0.3662 assist stage within the quick time period.