This key trading pattern hints at the continuation of Fantom’s (FTM) 125% rebound By Cointelegraph




Fantom (FTM) looks poised to hit a new record high in the coming sessions after its 125% price rebound from $1.23 on Dec. 14, 2021, to $2.84 on Jan. 3, 2022, triggered a classic bullish reversal setup.

Dubbed inverse head and shoulders (IH&S), the setup appears when an asset forms three troughs below a so-called neckline resistance, with the middle trough (the head) deeper than the left and right shoulder.

daily price chart featuring inverse head and shoulders pattern. Source: TradingView
FTM/USD daily price chart featuring the IH&S’s breakout setup. Source: TradingView
FTM/USD daily price chart featuring volume profile target. Source: TradingView
Relative Strength Index in a nutshell. Source: Investopedia
FTM/USD daily price chart featuring RSI-led corrections. Source: TradingView