Summary
TLDR: Fantom (FTM) price is forming a bullish pattern but facing bearish signals due to increased deposits on exchanges. If bearish cues continue, FTM price could see a 31% correction to $0.80-$0.88. However, if it stays above $1.03, the bearish thesis may be invalidated, leading to a potential increase to $1.11.
Key Points
1. Fantom (FTM) price is in the midst of forming a bullish pattern but despite the rally, it is observing bearish signals.
2. Can the altcoin fight this sentiment and carry on with its potential 102% increase, or will it face a 31% correction soon?
3. Crypto Market Bearish Cues Weigh Heavy on Fantom Price
Fantom price has maintained its presence above the $1 mark since the beginning of this week. Considering the historical movement, it seems like the altcoin will likely continue this rally, but broader market cues suggest the opposite.