FANTOM – ALTCOIN CHART ANALYSIS

Fantom (FTM) has broken two downtrend lines. The short-term this morning and the longer-term already in the last few days. Now we are fighting with the 4H-EMA Ribbons and trying to break them.

Right now we're trading at around $0.26. Trading volume is very low for the pump we are now through. So we can't speak of an impulsive and sustained breakout so far.

If we can get some more volume into the market, we could target the $0.29 area. We have strong resistance there and the 200-EMA could also be in this region by then.

We're also clearly missing volume on the daily chart. This needs to be added for a breakout above $0.29. Otherwise, we likely see even lower prices in the $0.22 area over the next few weeks.

On the other hand, if we make it, we have a lot of confluence in the $0.29 – $0.32 range. There lies the daily EMA ribbons, monthly resistance P and a major daily resistance zone.

So we have only one goal for the next few days: This zone must be broken through with one or more daily closes above USD 0.32. Only then can we be sure that the bottom was in and we can start a new attempt to the top.

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