Fantom needs no introduction, a popular project which maintained its usefulness as well as high trading volume. After FTM price skyrocketed, a corrective wave started which seems ended at 0.382 Fibonacci retracement. The 0.382 area is a strong and important one since it was able to supported price several times; if this area breaks downward, for any reasons, the grey line below can come to rescue. Anyway, it seems an upward impulse wave has started and currently price consolidating in a triangle shaped pattern. If price breaks this consolidation area upward it means continuation for the impulse wave. Let's see what happens.
Comment:
So for the third times FTM bounced of from the horizontal support line. Keep an eye on FTM. Let's see what happens.
So for the third times FTM bounced of from the horizontal support line. Keep an eye on FTM. Let's see what happens.
Comment:
So, FTM broke the second downtrend line, went up pretty well, and now approaching the major horizontal area. Let's see what happens.
So, FTM broke the second downtrend line, went up pretty well, and now approaching the major horizontal area. Let's see what happens.
There is a pattern that does not happen very often, but when it does, it can lead to rapid ascent or pump. It's a double triangle pattern and it seems it might be happening in FTM, so keep an eye on it.