Another coin I was hesitant to share and it is also not something I own or am currently trading (I have enough alt exposure).
Fantom suffered a major hit when Andre Cronje et al announced their departure from DeFi and the FTM ecosystem. These are valid reasons for a drop and to be cautious.
That said, FTM has bounced beautifully off of the lows and is working on a potential breakout through a key resistance, the descending blue line. This is AT RESISTANCE AND IS NOT A TRADE at the moment. You are looking for a break of the blue line on increased volume (which we have right now) and a close above. Then you can either wait for a retest as support (which may not happen), buy the breakout (riskier). $1.4885 is the key horiztonal level here, so you can also buy a retest of that area as support.
Fantom suffered a major hit when Andre Cronje et al announced their departure from DeFi and the FTM ecosystem. These are valid reasons for a drop and to be cautious.
That said, FTM has bounced beautifully off of the lows and is working on a potential breakout through a key resistance, the descending blue line. This is AT RESISTANCE AND IS NOT A TRADE at the moment. You are looking for a break of the blue line on increased volume (which we have right now) and a close above. Then you can either wait for a retest as support (which may not happen), buy the breakout (riskier). $1.4885 is the key horiztonal level here, so you can also buy a retest of that area as support.
scott.melker@texaswestcapital.com