Fantom (FTM) Outshines Market Amid Widespread Crypto Sell-Off

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As a seasoned analyst with over two decades of market observation under my belt, I find myself intrigued by Fantom’s current trajectory. The surge in ADX to 47 is a clear testament to the strength of this coin’s momentum, and if history repeats itself, we might see the ADX climb even higher. However, it’s essential to remember that markets can be unpredictable, much like my cat who suddenly decides to chase her tail in the middle of a quiet evening.

In the past 24 hours, the price of Fantom (FTM) has increased more than other cryptocurrencies in a downward market. The ADX indicator shows a surge to 47, indicating a robust trend momentum, and historical trends hint that it might continue to grow further.

The EMA lines also remain bullish, with FTM well-positioned for a continued uptrend toward $1.22. However, if the trend reverses, FTM could test key supports at $0.77 or even $0.35 in a deeper correction.

Fantom Current Trend Is Strong But Can Rise Even More

Fantom ADX has surged to 47 from just 12 in the past four days, signaling a significant increase in trend strength. The ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, on a scale from 0 to 100.

Values higher than 25 suggest a powerful trend, and values over 40 underscore an extremely potent momentum. This significant increase in ADX underscores the strength of FTM’s ongoing upward trend, a trend that is reinforced by growing demand for purchases.

Even when the ADX for FTM is 47, indicating a strong trend, past records show that its ADX might surge beyond 50 in phases of significant momentum.

If the ADX (Average Directional Movement Index) keeps rising, it suggests an increasingly robust uptrend, which might cause the cost of Fantom to increase further.

Whales Stopped Accumulating FTM

It seems that the accumulation rate of FTM whales has started to decelerate following a spike in activity earlier this month. The count of wallets possessing between one million and ten million FTM rose from 69 on November 15 to 74 by November 21, suggesting an increase in confidence among large investors during that timeframe.

As a researcher, I find it essential to monitor whale activity in the financial markets. These substantial entities, akin to whales in the ocean, possess immense power to sway market trends due to their substantial purchasing and selling actions.

Starting from November 21, the count of these wallets has remained steady, moving slightly up or down between 72 and 74. This implies that the whales have kept their assets, but they’re not actively buying in large quantities anymore.

This stability might signal a brief halt in Fantom’s upward price trend, as large investors (whales) seem to be holding back, waiting for more definitive market cues before making additional moves. For FTM holders, this could lead to less price fluctuation unless fresh triggers come into play to restart buying activity.

Fantom Price Prediction: Can It Reach $1.22?

In simpler terms, the Exponential Moving Averages (EMA) for Fantom are showing a positive trend, as the shorter-term averages sit higher than the longer-term ones, with the price itself hovering above each one.

This trend suggests a robust rise is underway, backed by persistent purchase activity. Should this upward trend persist, it’s plausible that the Fantom (FTM) price might surge by an extra 20%, potentially reaching $1.22 – a new peak level since March and its highest value to date.

However, if the uptrend reverses, FTM price could face a series of critical support levels.

The initial prices are set at approximately $0.77 and $0.58. However, should these prices fall, there’s potential for a substantial decline to around $0.35, which is a 66% decrease from the starting point.

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2024-11-27 00:00