Fantom (FTM) price is trading with a bullish bias in the weekly timeframe, with a sustained series of higher highs as the broader market rallies.
Fantom price has broken a weekly trend, rising to auction for $0.3311 at the time of writing. FTM could extend the gains 35% over the next few weeks before confronting the supply barrier extending from $0.4449 to $0.5262. A weekly break and close below $0.2390 would invalidate the bullish thesis, putting the $0.1530 range low on the table. Fantom price is trading with a bullish bias in the weekly timeframe, with a sustained series of higher highs as the broader market rallies.
In a highly bullish case, the gains could extrapolate for FTM to tag the $0.7836 resistance level, rendering the supply zone a bullish breaker. In highly ambitious cases, the gains could increase for Fantom price, rising past the aforementioned supplier congestion levels to test the Fair value Gap stretching from $0.8694 to $1.0605. This FVG is significant for FTM, indicating a sort of magnetic pull for Fantom price as it represents an inefficiency or imbalance that needs to be filled.
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