Fantom (FTM) Price Poised for a New All-Time High Soon?

Fantom (FTM) Price Poised for Rally: Expert Predicts New All-Time High

Fantom (FTM) is showing promising signs of a potential rally, according to an analysis by crypto analyst Captain Faibik. The token, which has been trading within a descending wedge pattern for several months, recently broke through a key resistance level. This breakthrough indicates a possible shift in momentum for the cryptocurrency.

Based on the positive signals on the chart, Captain Faibik suggests that Fantom could soon hit or even exceed its previous all-time high, positioning itself for significant gains.

Breakout from Descending Wedge Formation

Captain Faibik’s analysis of Fantom’s chart reveals that the token has successfully broken out from a descending wedge formation. Typically, this pattern signals a positive turnaround, indicating that the previous declining trend has weakened. The breakout occurred when FTM’s price moved above the wedge’s upper boundary, a sign that buying pressure is now surpassing selling pressure.

This breakout marks a potential turning point for Fantom, which had been trading within a confined range for a while. With the resistance level breached, the outlook for FTM appears bullish, supporting the possibility of a sustained rally in the near future.

Analyst’s Target Range for FTM Price

Captain Faibik has identified a price target range for Fantom between $1.60 and $1.70. This projection represents a notable increase from the current price levels. If Fantom continues to build on its recent breakout, reaching this target could be within reach in the coming days.

Key Points from the Analysis

• Fantom broke out from a descending wedge pattern, a bullish signal.
• Price target range: $1.60 to $1.70.
• Buying pressure is outpacing selling, supporting further upward movement.

Potential for a New All-Time High

In a recent tweet, Captain Faibik expressed optimism about Fantom’s future, stating that the token looks poised for another bullish rally and may soon challenge its previous all-time high. This outlook aligns with the technical analysis, where the breakout points to continued upward momentum.

While the immediate target remains between $1.60 and $1.70, Captain Faibik suggests that Fantom could surpass these levels and potentially reach a new all-time high if the current bullish momentum persists. This scenario could unfold sooner than expected, making FTM one of the top tokens to watch in the crypto market.