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Fantom (FTM) prices are firm, rallying from the primary support at $1.35. Meanwhile, the bullish trend from $15 may drive Balancer (BAL) back to its April 2021 level of $30.
Fantom (FTM)
Fantom, the DAG smart contracting platform, offers decentralized finance services to its developers. FTM is the in-house token of Fantom.
Past Performance of FTM
The Fantom token price is down roughly 57 percent from November 2021 peaks of around $3.5. The FTM crypto price outperformed the USDT on the last trading day.
Fantom Technical Analysis
Presently, FTMUSDT prices are steady, finding support above $1.35. This level flashes with the 61.8 percent Fibonacci retracement level of the H2 2021 trade range.
Despite the bear run of the past few days, FTM coin prices are now firm. They are now above the middle BB, breaking away and rallying from the primary support at $1.35.
Day-Ahead and What to Expect
In light of the FTMUSDT price development in the daily chart, aggressive traders might find entries to double down on every pullback retesting the middle BB.
Specifically, a close above $1.65 in a breakout above the recent consolidation cancels the downtrend.
However, if FTM sellers flow back, forcing the coin below $1.35, prices may drop to $0.90—the 78.6 percent Fibonacci retracement level of the H2 2021 trade range.
Balancer (BAL)
Balancer acts as a self-weighing portfolio, a price sensor, and a liquidity provider. BAL is the native token of the platform.
Past Performance of BAL
The Balancer coin price is relatively firm versus the USDT at the time of writing. However, BALUSDT prices are in range.
Losses of early December 2021, for instance, forced the token back to H2 lows of around $15.
Balancer Technical Analysis
Currently, the Balancer token is firm, printing higher against the USDT as visible in the BAL technical analysis of the daily chart.
The reversal from $15 is amid an upsurge in trading volumes, confirming strength.
Since BALUSDT prices are above the middle BB—in a breakout pattern to the upside—traders might find entries on every dip.
Their immediate target would be $30.
Day-Ahead and What to Expect
The short-term path of the least resistance appears to be northward. In a bullish breakout pattern with decent volumes, BAL coin buyers may search for entries.
The first target would be November 2021 highs of around $30.
Conversely, unexpected losses below the dynamic support (the middle BB) invalidate the bullish outlook.