Crypto trader Ali highlighted some constructive technical developments for a pair of altcoins, Worldcoin (WLD) and Fantom (FTM).
Starting with Worldcoin, Ali spotlights the emergence of a bull flag pattern on its 4-hour chart. Typically, continuation patterns and bull flags see assets consolidating briefly under resistance before breaking out upwards to resume the prior uptrend.
Ali notes that should Worldcoin confirm an upside breakout, a rally toward the $6.30 area will come into focus. That would represent around an 80% gain from current levels.
With Worldcoin rallying from under $2 at the start of the year before recently consolidating gains, Ali believes the technicals align for additional upside. A decisive move above its short-term descending channel resistance near $3.80 should set the stage for continued strength.
Shifting to Fantom, a large-cap smart contract platform, Ali identifies the potential for a bullish W-bottom pattern playing out on a higher timeframe weekly chart. After bottoming below $0.20 this past summer, FTM has shown considerable relative strength during the recent marketwide recovery.
Now consolidating constructively above its 20-week moving average, Ali notes a weekly close over horizontal resistance at $0.57 would confirm the bullish pattern.
In that scenario, Fantom’s upside target enters around the $1.60 area based on measuring the depth of the prior move down. Compared to June’s capitulation below $0.20, that would represent nearly an 8x return for FTM from current levels.
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