Fantom (FTM) has breached a descending trendline, signaling bullish momentum and a long-term target of $13.85, a 1,485% upside.
FTM has reclaimed $1.00 as support; breaking $1.30 resistance could trigger a strong rally toward historical highs and beyond.
Indicators like RSI (52.4) and MACD narrowing suggest potential reversal, supporting the breakout and sustained bullish momentum.
According to Captain Faibik, Fantom (FTM) has recently breached a descending trendline that extends from its all-time high of $3.50 in 2021. This breakout signals a potential shift from bearish to bullish momentum.
Currently trading at $1.25, the asset has reclaimed the $1.00 mark, a critical psychological and technical level. The long-term upside target stands at $13.85, which reflects a potential 1,485% gain from the breakout zone. The breakout aligns with prior price zones, suggesting a return to historical highs and beyond.
Key Levels Indicate Potential for Growth
Fantom has reclaimed major support near $1.00, with additional support identified at $0.165, a level that has held firm since 2020. This solid foundation has historically enabled multiple price rebounds. Short-term resistance now lies near $1.3000, a level critical for further upward momentum.
Source: Captain Faibik
A breakout above this resistance could trigger a strong rally, with the next significant resistance zone near $13.85. The green projection highlights a measured move derived from the prior range between the descending trendline and long-term support. If buyers maintain control, the market could witness sustained growth toward these levels.
Indicators and Market Trends Support Bullish Outlook
Technical indicators complement the bullish perspective. The RSI, currently at 52.40, suggests balanced momentum, with a rise above 60 likely to indicate stronger buying pressure. The MACD, while showing bearish momentum, exhibits narrowing lines, hinting at a potential reversal.
Source: TradingView
Weekly price movements show increased buying interest, further validating the breakout. Volume analysis confirms high activity during the upward move, although recent consolidation has seen stable but reduced volume. If momentum persists, Fantom could see a continuation toward the projected $13.85 level. However, a pullback to retest support at $1.00 may temporarily occur, providing analysts an opportunity to confirm the breakout’s strength.
