Using candle diagrams to analyze the ghost (ftm)
Table -door diagrams are effective in technical analysis and when dealing with cryptocurrencies such as Phantom (FTM), they can be particularly useful. In this article, we examine how to use candle tables to analyze the ghost cryptocurrency.
What is the ghost?
Phantom (FTM) is an open, decentralized and completely transparent blockchain platform that allows fast, cheap and safe transactions. This was founded in 2017 by the Ethereum Community Development Group, with the aim of creating a more scalable and efficient alternative to Bitcoin.
Understanding the candle tables
Castroador diagrams Graphic representation of price movements over time. Each candle represents a single daily trading session with two main candles: upcandles (green) and Downcandles (red). The color of the door -velas indicates the direction of the price movement:
- Green = Ascending Trend
- Red = descending trend
Using candle diagrams to analyze the ghost
Here are some -chave points that need to be taken into consideration when using candle tables to analyze Phantom:
- Time Praxo
: Choose a period of time that meets your analysis needs, such as 4 -day, 1 day or 5 days candles.
2.
* Hammer
* Shot star
* High sequestration
* Use flooding
- The Phantom Relative Strength Index (RSI) : RSI is an indicator of moment that helps measure the force of the trend. The 14 -day Phantom RSI was observed that it was recently a little dominated, suggesting a possible reversal.
- Support and Resistance
: Identify the main support levels around $ 0.75-100 (current price range) and resistance levels around $ 2.50-3.00 (historical peaks).
- Trade Carefully : Fantom price movements can be quite volatile, so it is essential to use caution when trade. Consider the use of stop losses and purchase objectives based on the analysis.
- Compare with other cryptocurrencies : Analyze the ghost performance in relation to other cryptocurrencies in the market, such as Ethereum (ETH) or Litecoin (LTC).
Example of use of use:
Suppose you are a merchant and look for a ghost for $ 0.75-1.00 and the sale with $ 2.50-3.00. Candle retention diagrams can identify the following:
- A high hammer pattern with a large amount of commercial activity around US $ 0.80 (indicating strong demand)
- Boste the flood pattern with low sales activity around $ 1.20 (indicating weak seller pressure)
- Support levels: $ 0.75 USD-0.85 and resistance levels: $ 2.00-2.10
- Exceeded RSI 70, indicating the potential return
Conclusion
Candle retention diagrams can be an effective tool for analyzing the ghost cryptocurrency. Understanding the main candle patterns and using relative force rates (RSI), traders can make decisions better grounded in buying and selling Phantom. Do not forget to use commerce carefully and compare the analysis with other cryptocurrencies in the market.
More sources
- [Blockchain Fantom documentation] (
- [FILLING FTM COINGECKO] (
- [Cryptoslate Commercial Guide: Fantom (FTM)] (
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