{"id":567011,"date":"2023-12-27T01:30:29","date_gmt":"2023-12-27T01:30:29","guid":{"rendered":"https:\/\/ktsl888.com\/?p=567011"},"modified":"2023-12-26T16:40:36","modified_gmt":"2023-12-26T16:40:36","slug":"fantom-ftm-rocket-up-1-60-happens-analyst","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/fantom\/fantom-ftm-rocket-up-1-60-happens-analyst\/","title":{"rendered":"Fantom (FTM) To Rocket Up To $1.60 If This Happens: Analyst"},"content":{"rendered":"

Fantom appears to be forming a double bottom pattern currently, a confirmation of which could lead to a break towards $1.60 according to an analyst.<\/p>\n

Fantom Might Be Forming A “W” Pattern In Its Weekly Chart<\/h2>\n

As explained by analyst Ali in a new post<\/a> on X, FTM’s weekly price chart has appeared to have been forming a “W” pattern recently. A W or double bottom<\/a> refers to a pattern in technical analysis that ends with a bullish resurgence for the asset.<\/p>\n

The pattern forms when the price forms two consecutive bottoms after going through some significant downtrend and finally reverses its direction with a sharp bullish move.<\/p>\n

Related Reading: Polkadot Shows Bearish Signal, Analyst Predicts Drawdown To This Target<\/a><\/div>\n

While the pattern is known for its resemblance to the letter “W” from the English alphabet, the pattern can still form even if the “W” shape doesn’t quite look as symmetrical.<\/p>\n

Like this pattern, there is also the “M” or double top<\/a> pattern, which forms when two consecutive tops follow an uptrend and the price subsequently shifts towards a downwards trajectory.<\/p>\n

Now, here is the chart shared by the analyst that shows how a potential W pattern may be forming for the weekly price of Fantom:<\/p>\n

\"Fantom<\/p>\n

The possible pattern forming in the asset's price | Source: @ali_charts on X<\/a><\/pre>\n
As is apparent in the above graph, the Fantom weekly price formed its second bottom in October and has since been sharply going up. The pattern is indeed starting to resemble a W now, but it’s still not fully confirmed yet.<\/p>\n
In the chart, Ali has also highlighted the $0.57 level at which the coin hit the top between the two bottoms and it seems like the weekly price has been approaching this line recently. “If $FTM sustains a weekly close above $0.57, it will confirm this bullish formation and march toward $1.60!” notes the analyst.<\/p>\n
From the current spot price of the cryptocurrency, a rally towards this level would mean an increase of almost 192%. It now remains to be seen if the asset can confirm this pattern and go on a run like this or not.<\/p>\n
A few days back, the same analyst had discussed about the on-chain support and resistance<\/a> levels for Fantom, revealing that the coin has little in terms of obstacles until the $0.66 level.<\/p>\n
\"Fantom<\/p>\n
The cost basis distribution around the various FTM ranges | Source: @ali_charts on X<\/a><\/pre>\n
In the above chart, the data for each FTM price range in terms of the number of investors or addresses who bought their coins at them is displayed. The $0.45 to $0.47 range was filled with investors, but the asset has already cleared it.<\/p>\n
Generally, investors tend to show a selling reaction whenever the price of the asset retests their cost basis from below, as they might be tempted to just exit at their break-even point, rather than risk going into losses again.<\/p>\n
Related Reading: Worldcoin Shows Bullish Breakout, Analyst Predicts 80% Rally<\/a><\/div>\n
Ali had noted that with the dense zone clear, there were no more supply walls in sight for the cryptocurrency. The asset has been making its way up since then, mowing through these centers of relatively weak resistance.<\/p>\n
With the path appearing clear in terms of on-chain resistance and a W pattern beginning to form, a move towards higher levels may be coming for the asset.<\/p>\n
FTM Price<\/h2>\n
At the time of writing, Fantom is trading around the $0.548 level, up 34% in the past week.<\/p>\n
\"Fantom<\/p>\n
Looks like the price of the coin has been going up recently | Source: FTMUSD on TradingView<\/a><\/pre>\n
Featured image from Shutterstock.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
Fantom appears to be forming a double bottom pattern currently, a confirmation of which could lead to a break towards $1.60 according to an analyst. Fantom Might Be Forming A “W” Pattern In Its Weekly Chart As explained by analyst Ali in a new post on X, FTM’s weekly price chart has appeared to have been forming a “W” pattern recently. A W or double bottom refers to a pattern in technical analysis that ends with a bullish resurgence for the asset. The pattern forms when the price forms two consecutive bottoms after going through some significant downtrend and finally reverses its direction with a sharp bullish move. Related Reading: Polkadot Shows Bearish Signal, Analyst Predicts Drawdown To This Target While the pattern is known for its resemblance to the letter “W” from the English alphabet, the pattern can still form even if the “W” shape doesn’t quite look as symmetrical. Like this pattern, there is also the “M” or double top pattern, which forms when two consecutive tops follow an uptrend and the price subsequently shifts towards a downwards trajectory. Now, here is the chart shared by the analyst that shows how a potential W pattern may be forming for the weekly price of Fantom: The possible pattern forming in the asset’s price | Source: @ali_charts on X As is apparent in the above graph, the Fantom weekly price formed its second bottom in October and has since been sharply going up. The pattern is indeed starting to resemble a W now, but it’s still not fully confirmed yet. In the chart, Ali has also highlighted the $0.57 level at which the coin hit the top between the two bottoms and it seems like the weekly price has been approaching this line recently. “If $FTM sustains a weekly close above $0.57, it will confirm this bullish formation and march toward $1.60!” notes the analyst. From the current spot price of the cryptocurrency, a rally towards this level would mean an increase of almost 192%. It now remains to be seen if the asset can confirm this pattern and go on a run like this or not. A few days back, the same analyst had discussed about the on-chain support and resistance levels for Fantom, revealing that the coin has little in terms of obstacles until the $0.66 level. The cost basis distribution around the various FTM ranges | Source: @ali_charts on X In the above chart, the data for each FTM price range in terms of the number of investors or addresses who bought their coins at them is displayed. The $0.45 to $0.47 range was filled with investors, but the asset has already cleared it. Generally, investors tend to show a selling reaction whenever the price of the asset retests their cost basis from below, as they might be tempted to just exit at their break-even point, rather than risk going into losses again. Related Reading: Worldcoin Shows Bullish Breakout, Analyst Predicts 80% Rally Ali had noted that with the dense zone clear, there were no more supply walls in sight for the cryptocurrency. The asset has been making its way up since then, mowing through these centers of relatively weak resistance. With the path appearing clear in terms of on-chain resistance and a W pattern beginning to form, a move towards higher levels may be coming for the asset. FTM Price At the time of writing, Fantom is trading around the $0.548 level, up 34% in the past week. Looks like the price of the coin has been going up recently | Source: FTMUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":567024,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[87842],"tags":[9376,90984,90985,90986,90983,43491,87826],"class_list":["post-567011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fantom","tag-fantom","tag-fantom-bullish","tag-fantom-double-bottom","tag-fantom-price-prediction","tag-fantom-rally","tag-ftm","tag-ftmusd"],"acf":[],"yoast_head":"\nFantom (FTM) To Rocket Up To $1.60 If This Happens: Analyst<\/title>\n<meta name=\"description\" content=\"Fantom is forming a double bottom pattern currently, a confirmation of which could lead to a break 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Fantom (FTM) To Rocket Up To $1.60 If This Happens: Analyst","url":"http:\/\/ktsl888.com\/news\/fantom\/fantom-ftm-rocket-up-1-60-happens-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/fantom\/fantom-ftm-rocket-up-1-60-happens-analyst\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/shutterstock_1165586542-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/shutterstock_1165586542-1.jpg?fit=4000%2C2670"},"articleSection":"Fantom","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["fantom","fantom bullish","fantom double bottom","fantom price prediction","fantom rally","ftm","ftmusd"],"dateCreated":"2023-12-27T01:30:29Z","datePublished":"2023-12-27T01:30:29Z","dateModified":"2023-12-27T01:30:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Fantom (FTM) To Rocket Up To $1.60 If This Happens: Analyst\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/fantom\\\/fantom-ftm-rocket-up-1-60-happens-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/fantom\\\/fantom-ftm-rocket-up-1-60-happens-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/shutterstock_1165586542-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/shutterstock_1165586542-1.jpg?fit=4000%2C2670\"},\"articleSection\":\"Fantom\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"fantom\",\"fantom bullish\",\"fantom double bottom\",\"fantom price prediction\",\"fantom rally\",\"ftm\",\"ftmusd\"],\"dateCreated\":\"2023-12-27T01:30:29Z\",\"datePublished\":\"2023-12-27T01:30:29Z\",\"dateModified\":\"2023-12-27T01:30:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/shutterstock_1165586542-1.jpg?fit=4000%2C2670","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/567011"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=567011"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/567011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/567024"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=567011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=567011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=567011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}