Fantom (FTM) recently experienced a significant market crash that resulted in almost a 50% loss in its value. Despite this, there is hope for a bullish comeback, as a crypto analyst named MyCryptoParadise shared insights on the potential recovery of the altcoin.

After falling to $0.56, Fantom is now looking for support at the $0.5679 mark to confirm a bullish breakout. The analyst believes that if the altcoin successfully bounces off this level, it could form a double bottom pattern with resistance at $0.798. This could result in a potential 100% increase in price, with targets set at $1 and possibly as high as $1.2.

However, there is also a scenario where Fantom's price could continue to decline if it fails to find support above $0.56. In this case, the analyst predicts a bearish continuation that could bring the price below $0.5. The support level in this scenario would be around $0.449.

Currently, Fantom's price is hovering above support at $0.6641, but it has seen a 3% decrease in the last day and a 10% decrease in the last week. The future of FTM depends on its ability to find support and establish a bullish trend. Investors are advised to be cautious and conduct thorough research before making any investment decisions in the unpredictable crypto market.