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Fantom: How to long this inverse head and shoulders pattern
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ambcrypto.comBuoyed by a broader market recovery, Fantom continued its ascent which kick-started on 27 October following a rebound from $2.8. Should FTM make headway towards the neckline of its head and shoulders pattern, further upside lay in wait after a successful breakout.
With spot volumes accumulating across exchanges, traders must keep a close eye on the chart in order to long FTM’s bullish pattern. At the time of writing, FTM traded at $3.28, up by 17% over the last 24 hours.
Source: FTM/USD, TradingView
Fantom formed an inverse head and shoulders on the lower timeframes, following its decline to $2.8 and a subsequent pickup back towards $3.48. Now that the right shoulder completed formation, FTM needed to make ground back towards the neckline.
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