Today we will analyze several possible future movements of FTM cryptocurrency price.
Right now, the situation on the crypto market and the stock market is so ambiguous that it will not be correct to confidently agitate for a price movement up or down. We are trading probabilities… The price is confidently going to the right only.
FTM cryptocurrency – positives
September’s fall in the crypto market formed point A, December’s point C (which is above point A). FTM cryptocurrency performed very well during the recent fall. At a time when the price of BTC and most alts updated their lows, the price of FTM corrected only 50% of the previous C-D upward momentum. That is, it did not renew the minimum of the previous growth impulse.
Such inputs suggest that FTM cryptocurrency consolidation is now at the final stage, because the price is being stopped higher and higher on corrections and a break up is somewhere close.
The critical range for a new growth wave is $1.73-2
If the BTCUSDT price will hold above $34200-34300 in the coming days, the FTMUSD price should not spill below $1.73-2.00 either.
From there, the way will open first to the area of $3.40 ATN, and then a breakout to $5.50-5.80 is also possible.
Also in the previous BTCUSDT idea, we wrote that if the price follows the fractal, then before the further upward movement, a possible breakout of stops, by shedding the price to $31500 is not excluded.
The price of FTMUSDT in such a case may squeeze down, but not below $1.32, where you can put buckets to buy, in case they fill up.
Globally, such a scenario could eventually draw a Triple Top pattern
When the collapse for the FTM cryptocurrency will come
The critical support zone is the range of $1.17-1.32. Below this range, holders’ nerves may give up and massive sell-offs will begin. Stops of the whole consolidation are also hidden below $0.90-1, and their activation may lead to a strong price spill-down, down to 0.44 cents.
Probably the most conservative option can be called – blue – it is a smooth continuation of consolidation in a wide range and as a result the maximum growth value to the area of $13 in the summer of 2022.