Fantom: Bullish Outlook

Earlier this week, Fantom attempted to break above the resistance at $1.39 but has so far struggled to sustain the upward momentum. We assume that the sharp pullback to $1 early last week has marked the completion of the green corrective wave [iv]. Accordingly, Fantom should now be in the impulsive ascent of the green wave [v], which should soon surpass the $1.39 resistance.