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Recent technical analysis on TradingView has drawn attention to Fantom’s price, with expectations that it will reach 18,000%. Increase to $150 By 2025. Very bullish outlook Common in the cryptocurrency market, but this market is exceptionally bullish for Fantom. Dating back to the cryptocurrency price movement of late 2020, technical analysis is based on extremely bullish forecasting on historical price trends and technical patterns forming on the Fantom price chart.
Anatomy of the FTM movement by 18,000%
The analyst forecast begins by highlighting Fantom’s significant 70% price correction from its 2021 all-time high of $3.46. Despite this, technical indicators show that investors are now adopting a bullish view of the cryptocurrency. The 10-day Fantom/TetherUS chart reveals resistance breakouts in both price action and RSIThis indicates a shift in momentum from bearish to bullish. Therefore, the analyst’s technical setup now indicates a bullish reversal.
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Centrality of expectations It is a bull flag pattern that spans Fantom’s price movements over the past three years. Notably, the recent price action saw Fantom price breaking above this bull flag pattern. The analyst notes that if this pattern repeats the impulsive wave seen in Fantom’s rise in 2021, the cryptocurrency could achieve another 18,000% increase. Going back to 2021, this 18,000% increase saw Fantom’s price rise from around $0.015 in November 2020 to $3.46 by October 2021.
Although the cryptocurrency landscape has changed since then, the analyst predicted that Fantom would replicate another 18,000% move in light of the bull flag breakout. This would translate to a price of $150 from the current price level. Such a move would undoubtedly see Fantom outperform most cryptocurrencies.
However, the analysis emphasizes the need for patience, as corrections of up to 80% may occur during the expected rise. The confluence of multiple technical indicators, visualized by the red and blue arrows on the chart below, further supports the outlook.
Key resistance levels and risk assessment
The analyst identifies $3 as the first major resistance level, which is highlighted by the formation of an inverse head and shoulders pattern. A breakout of this area will be a crucial step in validating the upward trajectory.
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At the time of writing, Fantom (FTM) is trading at $1.03. The price action in the past seven days has traded between the upper and lower bounds of $1.29 and $0.987 respectively. However, Phantom It is still bullish on the larger time frameIt is currently up more than 61% over the past 30 days.
Projecting 18,000 from current levels would require much larger capital inflows than in 2021, when Phantom was trading at about 1 cent. Regardless of how this 18,000% prediction plays out, Fantom price is on track to maintain its steady growth along with the rest of the cryptocurrency market, especially If it’s altcoin season He eventually rolls over.
Featured image created with Dall.E, chart from Tradingview.com
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