Fantom (FTMUSDT) Short Signal on 4-Hour Timeframe

💡 Technical analysis shows that after completing a 5-wave Elliott pattern, Fantom has entered a corrective phase, forming an ABC correction. Additionally, a Head and Shoulders pattern is in progress, with a potential neckline break signaling an ideal short entry.

🎯 Price Targets:

Target 1: $0.53
Target 2: $0.44
Target 3: $0.32

⏳ Correction Timeframe: Late December 2024 to early January 2025

This time window provides promising shorting opportunities for Fantom. The specified targets can also be considered for re-entry into long positions, as a new bullish wave may begin after the correction completes.

⚠️ Stop Loss: Set a stop loss slightly above the neckline to protect capital.

Trade active

The Head and Shoulders pattern on the Fantom chart has completed, and the neckline has been broken. This neckline break provides an ideal short entry opportunity. Price targets for this trade are $0.53, $0.44, and $0.32. Set a stop loss slightly above the neckline.

Note

Target 1 for Fantom was hit at $0.53, confirming the corrective analysis and signaling the next phase. Traders should pay attention to this level and adjust their strategies accordingly.

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