Cryptocurrency Fantom (FTMUSD) is trading bearish for the last year, but looking at logarithmic scale chart from Elliott wave perspective, we see it trading in a higher degree A-B-C correction that can be slowly approaching the end. Currently it looks to be still trading in subwave (4) of C and considering that strong support is around 0.15 level, then be aware of a retest of the June lows for the final wave (5) of C before we will see a bullish reversal.

(Click on image to enlarge)

However, of course, wave (5) of C can be alternatively completed as well, but to even think about a bullish reversal, we need to see a recovery at least back above 0.42 region. Bullish confirmation is only above 1.00 region.

All the best!

More By This Author:

USDJPY Approaching Big 148 Intervention Level. Will BoJ Act?
Crypto Market Is Recovering As USD Turns South
XRPUSD Is Trapped In Consolidation