FieryTrading

πŸ”₯ FTM Huge Reversal: V-Shaped Recovery

Long
BINANCE:FTMUSDT   Fantom / TetherUS
Since early November, FTM had lost almost 45% of its total value, making it one of the bigger losers of this month. A strong bearish move was to be expected after the massive 20x it made since August.

However, investors did not forget about this coin. A massive buying spree occurred at the $1.9 support area , which held on till today. Since yesterday's lows, FTM has already gained 22% in value, making it one of the biggest reversals of the day.

The next resistance area is the resistance of the bearish channel . In case the price can break out of there, I'd expect a further upside move, targeting $2.37 and $2.5 over the next weeks.

Happy trading!

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