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Recent technical analysis on TradingView has drawn attention to the Fantom price, which is predicted to rise by 18,000% to reach $150 by 2025. Super bullish forecasts are common in the crypto market, but this is exceptionally optimistic for Fantom. This technical analysis goes back to the crypto price movement in the second half of 2020 and is based on a super bullish prediction based on historical price trends and technical patterns forming on the Fantom price chart.
Analysis of 18,000% movement in FTM
The analyst forecast begins by highlighting a significant price correction of 70% from Phantom's 2021 all-time high of $3.46. Nevertheless, technical indicators indicate that investors are currently adopting a bullish outlook on the cryptocurrency. The 10-day chart of Fantom/TetherUS reveals a breakout of resistance in both price action and RSI indicators, indicating a change in momentum from bearish to bullish. As a result, analysts' technical settings now indicate that a bullish reversal is underway.
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At the heart of the forecast is a bullish flag pattern across Fantom's price movements over the past three years. Notably, recent price action has seen Fantom price break above this bullish flag pattern. Analysts note that if this pattern repeats the shocking wave seen in the Phantom rally in 2021, the cryptocurrency could achieve another 18,000% rally. Dating back to 2021, this 18,000% price increase took Fantom's price from around $0.015 in November 2020 to $3.46 by October 2021.
Although the cryptocurrency landscape has changed since then, analysts predicted that Fantom could repeat another 18,000% move given the bull flag breakout. This translates to a price of $150 from the current price level. With such moves, there is no doubt that Fantom will outperform most cryptocurrencies.
Nevertheless, the analysis highlights the need for patience, as a correction of up to 80% could occur during the predicted rally. The confluence of multiple technical indicators, visualized by the red and blue arrows in the chart below, further supports our prediction.
Source: TradingView
Key resistance levels and risk assessment
Analysts have identified $3 as the first major resistance level, highlighted by the formation of an inverted head-and-shoulders pattern. Breaking out of this zone would be an important step in validating the bullish trajectory.
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At the time of this writing, Fantom (FTM) is trading at $1.03. Over the past 7 days, the price has fluctuated between $1.29 and $0.987, respectively. However, Fantom remains bullish on the larger time frame as it is currently up over 61% over the past 30 days.
Projecting 18,000 people from current levels would require much higher capital inflows than in 2021, when Phantom was trading at around 1 cent. Regardless of how this 18,000% prediction plays out, Fantom's price is on track to continue its steady growth alongside other crypto markets, especially if altcoin season finally arrives. Masu.
FTM price breaks above $1 psychological level | Source: FTMUDT on Tradingview.com
Featured image created by Dall.E, chart on Tradingview.com
