Elliott Wave Pattern:
The chart shows a complete Elliott Wave pattern with the sequence 1-2-3-4-5 followed by an ABC correction. Currently, FTM is in the initial phase of the third wave of the new cycle, which signals the potential for significant upside ahead.
Fibonacci Retracement Level:
FTM has tested the 0.382 Fibonacci retracement level several times as strong support. This provides an indication that the price is likely to respect this technical level, which is usually a positive sign for potential further upside.
Moving Average:
The 21-week Exponential Moving Average (EMA) shows an uptrend. When price is above this EMA, it usually indicates bullish momentum.
Price Target:
The price target projection using Fibonacci extensions suggests that the price could reach around $5.55 in the anticipated wave 3 phase. This provides interesting upside potential from the current level of around $0.82.
Sentiment and Fundamental Analysis:
Based on the latest analysis and predictions, the Fantom project has growth potential supported by the adoption of new technologies and collaborations in the DeFi and dApps ecosystem.
The chart shows a complete Elliott Wave pattern with the sequence 1-2-3-4-5 followed by an ABC correction. Currently, FTM is in the initial phase of the third wave of the new cycle, which signals the potential for significant upside ahead.
Fibonacci Retracement Level:
FTM has tested the 0.382 Fibonacci retracement level several times as strong support. This provides an indication that the price is likely to respect this technical level, which is usually a positive sign for potential further upside.
Moving Average:
The 21-week Exponential Moving Average (EMA) shows an uptrend. When price is above this EMA, it usually indicates bullish momentum.
Price Target:
The price target projection using Fibonacci extensions suggests that the price could reach around $5.55 in the anticipated wave 3 phase. This provides interesting upside potential from the current level of around $0.82.
Sentiment and Fundamental Analysis:
Based on the latest analysis and predictions, the Fantom project has growth potential supported by the adoption of new technologies and collaborations in the DeFi and dApps ecosystem.