Tuesday, July 5

This Key Trading Pattern Hints at Continuation of Fantom (FTM) 125% Bounce By CoinTelegraph

© Reuters. This key trading pattern hints at the continuation of Fantom’s 125% rebound (FTM)

Fantom (FTM) appears poised to hit a new all-time high in the coming sessions, after its 125% price bounce from USD 1.23 on December 14, 2021 to USD 2.84 on January 3, 2022, It will trigger a classic bullish reversal setup.

Called the reverse head and shoulders (IH&S), the setup appears when an asset forms three valleys below the so-called neck resistance, with the center valley (the head) deeper than the left and right shoulders.

The FTM price has recently experienced a similar price trajectory, as shown in the chart below. As a result, FTM has common resistance in the range defined by $ 2.55 to $ 2.74, spanning the length of the reverse head and shoulders pattern.

Read the full article on Cointelegraph

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