The end of the Fantom (FTM) downtrend?
In recent weeks, Fantom hit a low of $0.16, and then has been making small increases.
In the following image you can see that, in both cases we have small upward trends, within an accumulation zone. The first, which comes from the downward trend since 2022, which rose its price to 3.16-3.40, when the upward trend began at the beginning of 2022.
The asset, little by little, had less demand due to the appearance of other cryptocurrencies and tokens that generated great profits and boosts in the market for investors.
In any case, if you look at the second impulse, you can see that the asset leaves the first accumulation phase, and a new accumulation occurs again. In the reversal horizons of 15 minutes to 1-4 hours, the price has bounced from the support zone, several times and the lows of the candles are one higher than the other.
Will Fantom leave the second accumulation zone? I think so. In the short and medium term, its demand will increase slightly.
Do not take this as investment advice (even though what I said a week ago about bitcoin is coming true), it is simply an appreciation based on a trend analysis.
