Based

bullish

2024

Show

Fantom

<p>Crypto analyst Alex Clay shared a technical analysis of <a href="https://captainaltcoin.com/fantom-ftm-price-pumps-50-but-is-this-a-bull-trap/" target="_blank" rel="noopener noreferrer nofollow">Fantom (FTM)</a> on X. The analyst identified several bullish indicators in the FTM chart, suggesting an imminent breakout and potential for price appreciation in the mid-term.</p>
<p>Clay’s analysis, highlights a double bottom accumulation pattern followed by a bullish flag formation. The analyst also noted that the price action is consolidating just below a confluence of resistance levels, including the mid-zone and multiple EMAs.</p>
<h2 class="wp-block-heading" id="strong-technical-indicators-point-to-bullish-outlook-strong"><strong>Technical Indicators Point to Bullish Outlook</strong></h2>
<p>The FTM chart presented by Clay reveals a double bottom pattern, which typically signals a potential trend reversal. This formation occurs when an asset’s price reaches a low point, rebounds, then tests that low again before moving higher.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/FTM?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FTM</a>/USDT Mid-Term <br><br>Awesome bullish structure on <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$FTM</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f403.png" alt="🐃" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>Double Bottom accumulation, then we got a correction due to the market and formed a Bullish Flag just under the resistance confluence of mid-zone + ema 50 + ema 100 + ema 200<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d0.png" alt="🧐" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Breakout is imminent imo<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> short-term… <a href="https://t.co/X1EcmDZMSX" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/X1EcmDZMSX</a></p>— Alex Clay (@cryptclay) <a href="https://twitter.com/cryptclay/status/1835725443564982388?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 16, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In the case of Fantom, Clay identified this pattern around the $0.20 price level. Following the double bottom, the chart shows a period of correction attributed to <a href="https://captainaltcoin.com/bitcoin-price-crashes-below-59k-why-is-the-crypto-market-down-today/" target="_blank" rel="noopener noreferrer nofollow">broader market movements</a>.&nbsp;</p>
<p>However, the price action has since formed a bullish flag pattern just below key resistance levels. This consolidation often precedes a strong move in the direction of the previous trend.</p>
<p>Clay emphasized the significance of the <a href="https://coinmarketcap.com/currencies/fantom/" target="_blank" rel="noopener noreferrer nofollow">current price position</a>, noting its proximity to multiple resistance factors. These include the mid-zone resistance level and the 50, 100, and 200-day EMAs.&nbsp;</p>
<p>The convergence of these technical indicators creates a formidable resistance zone, which, if breached, could trigger a substantial upward move.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/warning-bitcoin-price-could-hit-80k-sooner-than-you-think-heres-how/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Warning: Bitcoin Price Could Hit $80k Sooner Than You Think – Here’s How!</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-price-targets-and-potential-milestones-strong"><strong>Price Targets and Potential Milestones</strong></h2>
<p>Based on his research, Clay presented Fantom with numerous short to mid-term pricing targets. The analyst’s estimates span a conservative short-term target to aspirational long-term goals:</p>
<ol class="wp-block-list">
 <li>Short-term target: $1.2350</li>
 <li>Mid-term targets: $1.77, $2.7, and $3.63</li>
</ol>
<p>The short-term target of $1.2350 represents the initial hurdle for FTM, slightly above the current resistance zone. Clay suggests that clearing this level could pave the way for further gains.</p>
<p>The mid-term targets appear to be based on Fibonacci extension levels and historical resistance points. The $1.77 and $2.7 levels mark psychological and technical thresholds, while the $3.63 target approaches Fantom’s previous all-time highs.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/trader-points-to-awesome-structure-on-fantom-chart-heres-why-he-predicts-ftm-price-break-is-imminent/" rel="noopener noreferrer nofollow">Trader Points to ‘Awesome Structure’ On Fantom Chart – Here’s Why He Predicts FTM Price Break is Imminent</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Trader Points to ‘Awesome Structure’ On Fantom Chart – Here’s Why He Predicts FTM Price Break is Imminent

Table of Contents

CaptainAltcoin

Other articles published on Sep 17, 2024

COTI Launches L2 Testnet with Strong Ecosystem Support Boosting Affordable Privacy Solutions

ApeCoin Launches BluePrint Initiative to Enhance ApeChain with New Tools and Content

PlayStation co-CEO says consoles will remain the company’s main priority

How Blockchain is Changing the Energy Sector: A Look at Decentralized Grids

TON Foundation Partners with Curve Finance to Launch Stablecoin Swap Project

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!