Fantom (FTM) Targets Major Resistance as Analysts Predict Bullish Momentum

• CryptoBullet identifies $1.62, $2.20, and $2.77 as key Fibonacci targets for Fantom’s bullish recovery.
• Captain Faibik projects $FTM’s long-term target at $13.85 after a symmetrical triangle breakout near $0.90.
• Fantom must break $1.20 resistance to confirm bullish momentum; failure could lead to retests below $0.90.

Analysts CryptoBullet and Captain Faibik have shared insights on Fantom’s ($FTM) performance, highlighting potential breakout opportunities and long-term targets. At press time, Fantom was trading at $1.06, and appears to be recovering from its prolonged bearish phase following a steep correction in 2022. The focus remains on its ability to sustain momentum and reach new heights.

Major Resistance Levels in Focus

CryptoBullet’s analysis highlights a recovery attempt as Fantom pushes against a critical resistance zone between $1.00 and $1.20. This region, previously a strong support during the 2021 bull market, turned into resistance after the 2022 market downturn. Fantom’s attempt to breach this zone is seen as pivotal for further growth.

Key targets identified by CryptoBullet include $1.62, $2.20, and $2.77. These levels correspond to Fibonacci retracement points derived from Fantom’s peak near $3.40 and its recent low of $0.20. 

Specifically, the $1.62 target aligns with the 0.618 retracement level, a common level for reversals or consolidation. Higher levels at $2.20 and $2.77 reflect critical resistance zones and the 0.786 retracement level, respectively.

Long-Term Potential: Symmetrical Triangle Breakout

Captain Faibik’s perspective emphasizes Fantom’s breakout from a symmetrical triangle pattern. The breakout occurred near $0.90, with the token now trading around $1.06. This structure, characterized by lower highs and higher lows, had contained Fantom’s price action since its post-2021 correction.

Using the triangle’s height to project potential gains, Captain Faibik anticipates a long-term target of $13.85. This projection, reflecting a 1,485% increase from the breakout point, signals considerable bullish potential. Immediate support levels are noted around $0.90, while intermediate resistance zones include $2.00, $3.40, and $5.00.

Key Trends and Indicators

Fantom’s upward momentum is dependent on increasing trading volumes. Notably, the $1.20 resistance zone remains a critical barrier, with a successful breach expected to validate further price recovery. Failure to maintain levels above $0.90 could lead to a retest of lower support zones.