In today’s video, we show how to find coins in an uptrend that pulled back, are not overbought and have bullish momentum.
You can find this market scan among our pre-defined signals on the Signals Summary page. It’s ready for use. Just click on the link to get the results:
(soon we’ll be making a big overhaul of Signals Summary, adding many new powerful pre-defined scans)
Fantom (FTM) was among the results. It’s a coin in a solid uptrend across short- medium- and long-term horizon, but it’s trading down today (i.e. ‘pullback in uptrend’). Watch video for explainer.
We also uncovered an interesting nugget of information in our News section.
Fantom Protocol is a competing blockchain with Ethereum, Avalanche, and Solana, among others.
In August 2021, Fantom launched a $150M funding program for it’s ecosystem and, as a result, there’s been many DeFi projects that launched on Fantom lately and they’re seeing solid adoption from end users who are depositing assets to harvest yields.
That’s pushing up the TVL (Total Value Locked). In fact, TVL hit a record $7B+. That sets a bullish fundamental backdrop for this altcoin and the Technical Analysis confirms that.
As outlined in our Curated Charts, Fantom (FTM) price is reaching the ATH resistance (~$3.50) where there’s been overhead supply from sellers in the past. See chart below.
The trade setup would be to buy on pullbacks to the nearest support area (~$2.50) with upside to $3.50 resistance, or wait for a breakout above $3.50. The key is that we’d be trading with the trend (up), which is half of the winning formula. And altFINS platform can easily help you find coins in an Uptrend or Strong Uptrend.
You can create price alerts for these critical levels in altFINS platform. Here’s how. We also demonstrate in today’s video.
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