The Fantom price is up over 7% today, now trading at exactly $1. Analyst “Rose Premium Signals” posted a viral FTM chart to his 71k followers on X, formerly Twitter.
The Fantom chart shows a clear symmetrical triangle pattern with converging trendlines, indicating a period of consolidation before the recent breakout. Currently, FTM is retesting the breakout level, which serves as a crucial support zone. A successful bounce from this area would validate the triangle breakout and could attract more buyers to the market.
The Fibonacci retracement levels are particularly noteworthy in this analysis. The 0.618 and 0.786 retracement levels (shown as green and light blue horizontal lines on the chart) align perfectly with the current support zone. These specific levels often act as reversal points during price retracements.
Multiple Fantom Price Targets on the Horizon
The analysis highlights several key price targets that traders are watching. The first significant resistance sits at $1.7149, which coincides with previous swing highs. Beyond this, two higher targets at $2.2738 and $2.7721 align with Fibonacci extension levels and historical resistance points. The analyst also notes a $3.20 resistance zone for Fantom, though this falls slightly outside the chart’s visible range.
Currently, the FTM price has pulled back to the 0.618 Fibonacci level after a strong rally. While the recent large bearish candle shows some selling pressure, the price remains above critical support. The area near the 0.618 Fibonacci level is proving to be a strong support zone, and maintaining this level would keep the bullish outlook intact. However, if the Fantom price drops below the 0.786 Fibonacci level, it could signal a shift in market direction.
The symmetrical triangle breakout suggests the potential start of a new trend, though the recent sharp correction indicates that buyers need to step in and defend the current support zone for the bullish momentum to continue.
Read also: Kaspa Price Prediction: How High Can KAS Go in 2025?
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