Fantom (FTM) To Rocket Up To $1.60 If This Happens: Analyst

Fantom (FTM) has the potential to skyrocket to $1.60 if a double bottom pattern is confirmed, according to an analyst. The weekly price chart for FTM seems to be forming a “W” pattern, which typically indicates a bullish resurgence for the asset. This pattern occurs when the price hits two consecutive bottoms after a significant downtrend and then reverses its direction with a sharp upward move. Although the pattern is still not fully confirmed, if FTM sustains a weekly close above $0.57, it could confirm the bullish formation and push the price towards $1.60, representing a potential increase of 192%. The chart also shows that there are currently no major on-chain resistance levels for FTM, further supporting the possibility of higher price levels. At the time of writing, Fantom is trading around $0.548, showing a 34% increase in the past week. As always, investors are advised to conduct their own research and exercise caution when making investment decisions.