In the ever-evolving world of cryptocurrency, bold predictions are not uncommon. However, a recent technical analysis on TradingView has spotlighted Fantom (FTM) with an exceptionally optimistic forecast, suggesting a staggering 18,000% price increase that could see FTM reaching $150 by 2025. Let’s delve deeper into the analysis and understand what underpins this ultra-bullish forecast.
The Anatomy Of FTM’s Projected 18,000% Growth
The prediction stems from an examination of Fantom’s price action, tracing back to late 2020. The analysis highlights a significant correction of 70% from its all-time high of $3.46 in 2021. Despite this correction, current technical indicators are signaling a bullish shift in sentiment. On the 10-day Fantom/TetherUS chart, breakouts in both price action and the RSI (Relative Strength Index) suggest a momentum shift from bearish to bullish, supporting the notion of a bullish reversal in progress.
Unfolding the Bull Flag Pattern
Central to this optimistic forecast is the emergence of a bull flag pattern, which has been shaping Fantom’s price movements over the last three years. Recent price actions have seen Fantom breaking above this pattern, igniting hopes of a similar impulsive wave akin to its 2021 rally. Back in 2021, Fantom experienced an 18,000% increase, skyrocketing from approximately $0.015 in November 2020 to $3.46 by October 2021. Despite changing market conditions, the analysis suggests the possibility of another similar surge, potentially driving Fantom’s price to $150 from current levels.
Patience and Market Dynamics
However, the journey to such an astronomical price point is not without its challenges. The analysis cautions the need for patience, as potential corrections of up to 80% could occur during this upward trajectory. The forecast is supported by a confluence of multiple technical indicators, visualized through strategic chart signals.
Key Resistance Levels and Risk Assessment
Identifying critical resistance levels is essential to validate this bullish outlook. The first major resistance is pegged at $3, marked by an inverse head-and-shoulders pattern. Successfully overcoming this resistance would be pivotal for Fantom’s bullish trajectory.
Current Market Position
As of now, Fantom is trading at $1.03, experiencing fluctuations between $1.29 and $0.987 over the past week. However, on a broader timeframe, Fantom has shown promising growth, with a 61% increase in the past 30 days alone. Achieving the ambitious 18,000% increase from current levels would necessitate a substantial influx of capital, surpassing the conditions of its 2021 surge when it was valued at around 1 cent.
Regardless of how this projection unfolds, Fantom’s price appears poised for steady growth in tandem with the broader crypto market, especially if an anticipated altcoin season comes to fruition.
