A recent technical analysis on TradingView has drawn attention to the price of Fantom, predicting a rise of 18,000% to $150 by 2025. Super bullish forecasts are common in the cryptocurrency market, but this prediction is exceptionally optimistic for Fantom. This technical analysis dates back to the end of 2020, based on historical price trends and technical patterns formed on the Fantom price chart.
Detailed analysis of FTM's 18,000% rise
Analysts' predictions first highlight that Fantom's price has significantly retraced 70% from its historical high of $3.46 in 2021. Nevertheless, technical indicators show that investors are now bullish on the cryptocurrency. The 10-day Fantom/TetherUS chart indicates that both price action and the RSI have broken resistance levels, suggesting a shift in momentum from bearish to bullish. Therefore, the analysts' technical setup now indicates that a bullish reversal is underway.
At the core of the prediction is the bullish flag pattern that has run through Fantom's price movements over the past three years. Notably, the recent price action has caused Fantom's price to break out of this bullish flag pattern. Analysts point out that if this pattern repeats the impulses observed during the 2021 Fantom rebound, this cryptocurrency could rise again by 18,000%. Back in 2021, this 18,000% rise took Fantom's price from about $0.015 in November 2020 to $3.46 in October 2021.
Despite the changes in the cryptocurrency landscape since then, analysts predict that, given the bullish flag breakout, Fantom could rise again by 18,000%. This would mean an increase in price to $150 from the current price levels. Such a trend would undoubtedly make Fantom outperform most cryptocurrencies.
Nonetheless, the analysis emphasizes the need for patience, as corrections of up to 80% may occur during the anticipated upward movement. The convergence of multiple technical indicators visually displayed in the chart below through red and blue arrows further supports this prediction.
Key resistance levels and risk assessment
Analysts believe that $3 is the first major resistance level, marked by the formation of an inverted head and shoulders pattern. Breaking through this area will be a key step in confirming a bullish trajectory.
At the time of writing, Fantom (FTM) is trading at $1.03. Over the past seven days, its price has fluctuated between a high of $1.29 and a low of $0.987. However, Fantom still appears bullish over a longer timeframe, having risen over 61% in the past 30 days.
From current levels, the capital inflow needed to reach the predicted 18,000% will far exceed that of 2021 when Fantom was trading at around 1 cent. Regardless of the outcome of this 18,000% prediction, Fantom's price is expected to maintain steady growth alongside other cryptocurrency markets, especially when the altcoin season finally arrives.
