Fantom's (CRYPTO:FTM) price is currently caught in a technical tightrope, walking the line between bullish hopes and bearish realities.

The cryptocurrency's formation of a Parabolic Curve pattern suggests a looming 31% correction, a possibility that has the market on edge.

This bearish potential is compounded by Fantom's strong correlation with Bitcoin (CRYPTO:BTC), as well as an uptick in active deposits indicating a heightened readiness among investors to sell.

Despite these signs, there remains a sliver of hope for a rally, should the altcoin defy the odds and leverage its bullish pattern for a significant upturn.

Ultimately, whether Fantom can avert the bearish forecast and pursue a potential 102% increase hinges on its next moves and the broader market's influence.