- Fantom is currently completing a month-long consolidation following the previous run to $0.87
- According to EW structure, this oculd be viewed as an extended C correction, influenced by BTC volatility in recent weeks.
- During this time, Fantom has solidified support on the Long Term support trend that has acted as a "launchpad" for the past two months
- Stoch RSI has bottomed, ready for reversal
- CMF is reclaiming a positive volume trend, indicating that consolidation is drawing to a close.
- A bullish break above local resistances at 43c & 47c, combined with a wealth of promising FA coming in the form of State partnerships and adoption of the Opera network by DeFi heavyweights could prove a strong catalyst for a move toward next fib resistance at $1.40, though given the length of consolidation and resilience, FTM could likely run much further in the coming weeks and months.
- According to EW structure, this oculd be viewed as an extended C correction, influenced by BTC volatility in recent weeks.
- During this time, Fantom has solidified support on the Long Term support trend that has acted as a "launchpad" for the past two months
- Stoch RSI has bottomed, ready for reversal
- CMF is reclaiming a positive volume trend, indicating that consolidation is drawing to a close.
- A bullish break above local resistances at 43c & 47c, combined with a wealth of promising FA coming in the form of State partnerships and adoption of the Opera network by DeFi heavyweights could prove a strong catalyst for a move toward next fib resistance at $1.40, though given the length of consolidation and resilience, FTM could likely run much further in the coming weeks and months.