THELOGICALINDIAN - Fantoms declivity could be extensive burnout potentially arch to a bullish impulse
Fantom appears to be trading in oversold area while buy signals are starting to appear. However, FTM charge authority aloft a acute abutment akin to affirm the optimistic outlook.
Fantom Looks Primed to Rebound
Fantom is hinting at a abeyant accretion afterwards constant a cogent downtrend.
The Layer 1 network’s FTM badge has absent added than 45% in bazaar amount over the accomplished two weeks. It went from trading at a aerial of $2.08 on Mar. 2 to hit a low of $1.14 on Mar. 11. Despite the cogent losses incurred, one abstruse indicator suggests that Fantom could be about to reverse.
The Tom DeMark (TD) Sequential indicator is currently presenting buy signals on FTM’s circadian and three-day chart. The bullish formations developed as red nine candlesticks, which is apocalyptic of a one to four candlestick advance or the alpha of a new advancement countdown. Bullish drive charge aces up about the accepted amount levels actual anon for the optimistic outlooks to be validated.
Fantom is currently trading about a basic abutment akin that has been activated alert back aboriginal December 2024. As continued as FTM continues to authority about the contempo beat low at $1.14, it will accept a adventitious of rebounding. A fasten in buy orders at the accepted amount akin may accord FTM the backbone to advance against $1.44 or alike $1.73.
Failing to authority aloft the $1.14 abutment akin could spell agitation for Fantom. The breach of such a analytical breadth of abutment could abet agitation amid investors, auspicious them to advertise their backing to abstain added losses. Under such different circumstances, FTM could see its amount bead by about 30% against the 200-day affective boilerplate on the three-day blueprint at $0.80.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC and ETH.
