Fantom hanging around all time low. Time to step in?

Fantom / BitcoinBinance

Description

⋅ Feb 20, 2020 3:58 PM

Tricky altcoin technical analysis, but it’s about Fantom (FTM).

We’ve been posting this one from Coinigy, but I’d want to post it on TradingView to see how this one unfolds.

In general I’m assuming that we’re seeing pretty interesting range retests on altcoins, especially Cardano, EOS and Monero.

This also means that if Bitcoin remains above $9,400-9,450, the altcoin fiesta can just continue.

Crucial factor for FTM -> hold the green zone around 90-92 satoshis.

As long as that holds, I’m expecting to see ourselves making a double bottom structure in which we break back in the range above 120-125 satoshis.

Closing HTF below 90 satoshis and we’re in price discovery, which means that I’m only interested until we flip this level back as support.

If we hold, targets can become 160 and 180 satoshis.

Comment

⋅ Feb 25, 2020 3:34 PM

R.E.K.T.

Trade closed: stop reached

⋅ Feb 25, 2020 3:34 PM

Comments

deathdisco

⋅ Feb 22, 2020 5:12 AM

Frankly, this chart is looking terrible, and now is not the time to step in. Just because something goes down doesn't mean it 'needs' to go back up. This project is suffering its own issues (it is just a poor copy of hadera with no development). You place upward targets in upward trending coins, there's no evidence whatsoever of a reversal here where other coins show actual promise.

VadorZozo

⋅ Nov 25, 2021 11:30 PM

@deathdisco, he was right