Given the current prevailing market conditions, it might be a good idea to go long on Fantom (FTM).

In the daily analysis for intraday trading, we see how the price began to rise after making a double bottom pattern, coinciding with one of the most reliable resistances between $0.1294 and $0.1838.

After forcefully breaking a very significant support (around $3) and tested it in the past, as can be seen in the daily candle for November 5, 2022, the price returns to seek said support to retest it once more and continue it course up to approximately $6 in a short period of time.

Currently, the price has broken this uptrend that it had been following for around two months, so it may prevent it from trying to test the daily resistance once again, coinciding with the 200-period moving average.

This point could be very interesting for a possible purchase since we have two confluences at the same point and this hypothesis greatly reinforces the analysis to start positioning ourselves long in intraday trading.