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  • FTM/USD is up 50% hitting $0.0101 on Binance.
  • Fantom has seen a massive spike in trading volume after the bull breakout.

Fantom was up by almost 71% after a tremendous bull rally towards $0.01 from a low of $0.0059. It’s unclear what caused the explosion as there are no recent announcements or anything. Apparently a big whale simply bought a lot of Fantom coins considering the digital asset as extremely undervalued. 

FTM/USD daily chart

ftmusd

Obviously, after this huge pump, FTM is extremely bullish although the daily chart was already in an uptrend for quite some time. The 12-EMA and the 26-EMA were basically crossing bearishly until the explosion. They are now bullish again just like the MACD. The daily RSI is only slightly overextended but could be ignored by the bulls if the momentum is strong enough.

FTM/USD 4-hour chart

ftmusd

Zooming in we can see the move didn’t just happen over a period of a few minutes but almost eight hours. It started with a decent 4% jump to $0.0064 followed by a super 14% surge towards $0.0074. The trading volume was still relatively low until the next 4-hour candlestick that took FTM to $0.01.