Fantom (FTMUSDT) Short Signal on 4-Hour Timeframe
2024-11-02

💡 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.