- Fantom’s support level around $0.20 has stayed strong for over 884 days during its current price pattern.
- Livermore’s Accumulation Cylinder signals a major move as Fantom eyes a potential breakout above the $1.19 price range.
- Analyst Alex Clay predicts Fantom could reach $10 as market momentum builds following years of steady accumulation.
Fantom (FTM) shows a strong bullish setup that could push its price to double digits, according to analyst Alex Clay. The chart shows a Livermore Accumulation Cylinder pattern, which has been forming for 884 days, indicating price movement is likely.
Source: Alex Clay
The Livermore Accumulation Cylinder Explained
The Livermore Accumulation Cylinder is a pattern where prices consolidate for an extended period before a major breakout occurs. Fantom’s chart has been developing this pattern over 29 monthly bars, which equates to more than two years. Historical data shows that such patterns often lead to sharp price increases when the market moves out of the consolidation zone.
The chart also shows that the support level near $0.15 to $0.20 has been tested several times but has not been broken. The declining trading volume during this accumulation phase suggests that large investors are holding positions, reducing supply in the market and preparing for a potential price surge.
Alex Clay believes the chart supports a price target above $10, significantly higher than the current price of $1.19. He suggests that if the market respects this pattern, Fantom could achieve these levels soon.
Technical Indicators and Market Sentiment
The chart highlights ascending trendlines that form a wedge pattern, which is often a precursor to an upward breakout. Reduced trading volume during the consolidation phase indicates growing pressure for the price to move in one direction. Such trends are common in markets when long-term holders accumulate assets, waiting for the breakout.
Market sentiment around Fantom remains strong due to developments within its ecosystem. These improvements, combined with the chart pattern, suggest that the cryptocurrency could be among the top performers in 2025. However, some dissenting voices in the market have questioned the validity of the support levels. Despite this, Alex Clay dismissed these claims and maintained his bullish stance on the cryptocurrency’s outlook.
What Investors Should Know
The current pattern presents an opportunity for long-term investors who are looking for returns. If the Livermore Accumulation Cylinder plays out as expected, Fantom could see its price move well beyond $10. With the market watching for confirmation of a breakout above $1.19, the coming months could define Fantom’s trajectory for years to come.
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