- Fantom’s support level near $0.20 has remained strong for over 884 days under the current price pattern.
- Livermore’s Accumulation Cylinder signals a major move as Fantom awaits a potential breakout above the $1.19 price range.
- Analyst Alex Clay predicts Fantom could reach $10 as the market gains momentum after years of steady accumulation.
According to analyst Alex Clay, Fantom (FTM) is exhibiting a strong bullish setup that could push its price into double digits. The chart shows the Livermore Accumulation Cylinder pattern, which was formed over 884 days, indicating the likelihood of price movement.
Source: Alex Clay
Explanation of Livermore Storage Cylinder
The Livermore Accumulation Cylinder is a pattern in which prices consolidate over an extended period before a major breakout occurs. The Fantom chart develops this pattern over 29 monthly bars, which corresponds to more than two years. Historical data shows that such patterns often lead to sharp price increases when the market breaks out of a consolidation zone.
The chart also shows that the support level around $0.15-$0.20 was tested several times but was never broken. A decrease in trading volume during the accumulation stage suggests that large investors are holding positions, reducing supply in the market and preparing for a potential price increase.
Alex Clay believes the chart supports a price target above $10, well above the current price of $1.19. He suggests that if the market follows this pattern, Fantom could reach these levels soon.
Technical indicators and market sentiment
The chart highlights rising trend lines that form a wedge pattern, which is often a precursor to a breakout to the upside. A decrease in trading volume during the consolidation phase indicates increasing pressure to move the price in one direction. Such trends are common in markets where long-term holders accumulate assets in anticipation of a breakthrough.
Market sentiment around Fantom remains strong due to developments in its ecosystem. These improvements, combined with the chart, suggest that the cryptocurrency could be among the top performers in 2025. However, some dissenting voices in the market question the validity of support levels. Despite this, Alex Clay rejected these claims and maintained his bullish stance on the cryptocurrency’s prospects.
What investors should know
The current model represents an opportunity for long-term investors looking for returns. If the Livermore Storage Cylinder performs as expected, Fantom could see its price well above $10. As the market awaits confirmation of a break above $1.19, the coming months could shape Fantom’s trajectory for years to come.
