Dear Everyone,
I hope on this day everyone is well! I want to share my analysis with the public to understand what has given me the evidence regarding the near future growth of $FTM.
Why would it go up?
- Technology adoption is increasing at an exponential rate https://ftmscan.com/chart/address
- Above moving averages + Stoch RSI
- Lower time frame (4h) bullish diverange
- Weekly MACD (looking so seeexy)
- Found Support on MA 21 + Trend line
Why would it go down?
- Bitcoin drops
- Harry Yeh selling all his tokens (one of main investor :P)
- Many more reasons but very unlikely.
Analysis
1. As you can see on the above chart, FTM has been retesting founding a support at the 21 MA and its trend line. Fib lvl 0.786 is a strong resistance and was a previous support before the market fell in mid-may. The 30% correction is a healthy indication that people are taking profits but $FTM is not ready to drop further. The 50MA and 200MA are going to cross and based on the history of fantom, it is a very significant bullish sign.
2. Stoch RSI is at the bottom ready for another move upwards.
3. RSI bullish divergence from higher lows
4. Weekly MACD is bullish
5. Despite not reaching high levels of volume $FTM is known to reach volume spikes when doing parabolic moves right after it consolidates. The accumulation from the past months has woken up a little and large volume spikes could happen anytime pushing $FTM to the unknown territory.
PS: We can possibly see the end of this cycle reaching the 1.618 Fib lvl. with a volume of ~$7B and market price of $2.8-$3.1
If you have any suggestion or question feel free to share it in the comment section.
Sebastien - Hilius Capital Managing Director
I hope on this day everyone is well! I want to share my analysis with the public to understand what has given me the evidence regarding the near future growth of $FTM.
Why would it go up?
- Technology adoption is increasing at an exponential rate https://ftmscan.com/chart/address
- 10M transactions per month (50m total)
- 300k+ transaction per day
- $500m in locked assets
- Passionate and genius team
- Above moving averages + Stoch RSI
- Lower time frame (4h) bullish diverange
- Weekly MACD (looking so seeexy)
- Found Support on MA 21 + Trend line
Why would it go down?
- Bitcoin drops
- Harry Yeh selling all his tokens (one of main investor :P)
- Many more reasons but very unlikely.
Analysis
1. As you can see on the above chart, FTM has been retesting founding a support at the 21 MA and its trend line. Fib lvl 0.786 is a strong resistance and was a previous support before the market fell in mid-may. The 30% correction is a healthy indication that people are taking profits but $FTM is not ready to drop further. The 50MA and 200MA are going to cross and based on the history of fantom, it is a very significant bullish sign.
PS: We can possibly see the end of this cycle reaching the 1.618 Fib lvl. with a volume of ~$7B and market price of $2.8-$3.1
If you have any suggestion or question feel free to share it in the comment section.
Sebastien - Hilius Capital Managing Director
Comment:
Trade active:
Coinbase supports Fantom mainnet. Millions of wallet users can now send and receive $FTM through Coinbase Wallet.