CandleFocus Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What’s Next In The Parabolic Trend
2024-12-18
Author: Content Editor
A crypto analyst on TradingView has published a detailed report on Fantom (FTM), analyzing its price action and providing insights into its potential future movements. The analyst accurately predicted FTM's surge above $1 and highlights key price levels, market trends, and technical indicators for its next parabolic trend. Currently, FTM is following a parabolic uptrend supported by an ascending trendline, and the analyst suggests that a sharp bullish trend may occur if the cryptocurrency exhibits weakness and potential for a price reversal. The analyst sets the first minor resistance level at 1.6218, with the strongest resistance at 3.2506 near FTM's all-time high. On the other hand, if FTM experiences a price correction, the first support is at the curved trendline, followed by price levels of 1.1116 and 0.7707. The analyst notes that FTM is currently moving within an Ascending Channel in the 4-hour timeframe and a breakout from this channel could lead to either a new parabolic trend or a trend exhaustion. The next static resistance level for FTM is identified at 1.636.
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