Short
FTM | Fantom further downside expected
Should FTM not be able to reclaim the $1.00 level, I could see it dipping towards the next area of support at the $0.48 - 0.6 levels.
However, if we should have overall favorable conditions, I could see it correcting from its current downtrend towards the MA50 and/or its main resistance trend line, before retesting $1.00 again and falling below towards the indicated area of support.
For now I like to wait on the sidelines until I see a clear direction for either case. If you have question, feel free to ask.
Let's see how this plays out.
Thanks for your support.
Have a good one.
However, if we should have overall favorable conditions, I could see it correcting from its current downtrend towards the MA50 and/or its main resistance trend line, before retesting $1.00 again and falling below towards the indicated area of support.
For now I like to wait on the sidelines until I see a clear direction for either case. If you have question, feel free to ask.
Let's see how this plays out.
Thanks for your support.
Have a good one.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.