Fantom Price Jumps 23% in a Day After Selling Pressure Comes to a Halt

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As a seasoned crypto investor with battle-tested nerves and a portfolio that’s seen its fair share of rollercoaster rides, I find myself cautiously optimistic about Fantom (FTM). The recent drawdown indeed caused significant losses, but as someone who’s weathered market storms before, I know these periods are often followed by sunny skies.

The sharp increase in the supply of FTM on exchanges and the subsequent selling pressure have left many investors worried about further losses. However, the recent price surge could help mitigate these concerns, potentially stabilizing market sentiment for FTM.

The active address profitability data suggests a slowdown in selling activity, which could support Fantom’s recovery. If this trend continues, we might just see FTM regain crucial price levels in the coming weeks.

As for my prediction, I’m aiming high. If Fantom successfully bounces off the $0.83 support level and maintains its bullish momentum, it could continue its uptrend, recovering the 52% losses incurred during December’s second half. Reclaiming $1.03 as support would mark a significant milestone, restoring investor confidence and signaling further growth potential.

However, failure to hold above $0.83 could result in a retracement, erasing part of the recent gains. Sustained momentum is critical to avoiding further setbacks. But remember, in the world of crypto, even a second’s distraction can turn a Lambo into a Camaro! So, keep your eyes on the road and hold tight!

As a crypto investor, I’ve witnessed a remarkable resurgence in the value of Fantom (FTM) following a steep decline that resulted in considerable losses for many of us. In an attempt to safeguard our investments, numerous fellow investors opted to hold onto their FTM, which unfortunately exacerbated the downward trend.

But, the losing streak for Fantom might be about to wrap up, signaling a return of positive energy in the market.

Fantom Investors Are Skeptical

As someone who has been actively investing in cryptocurrencies for several years now, I’ve learned to keep a close eye on market trends and fluctuations. This week, I noticed a significant increase in the supply of FTM on exchanges, which prompted me to take notice. Within just 48 hours, a staggering 37 million tokens were transferred, suggesting a massive sell-off by investors. The total value of these sales amounted to $31 million, reflecting growing concerns over the altcoin’s stalled uptrend.

In my experience, such moves typically indicate waning confidence in a cryptocurrency’s short-term prospects. When I see this kind of activity, I usually take it as a signal to reevaluate my investment strategy and potentially sell off some of my holdings before the market takes a turn for the worse. It’s always important to stay informed and adapt to changing market conditions in order to protect and grow your investments.

Concerns over potential additional losses have arisen among many investors due to a lack of consistent growth. The fear of diminishing profits has caused some holders to sell their tokens, intensifying the selling pressure. But, the recent price increase might help alleviate these worries, possibly leading to improved market confidence for FTM.

As a seasoned investor with over a decade of experience under my belt, I have witnessed various market cycles and trends. The recent revelation that only 10% of FTM investors are currently in profit is concerning, given this is the lowest level for this group. This data suggests a slowdown in selling activity among investors, which could potentially indicate a bearish trend. Historically, when profitability is low, fewer investors are willing to sell due to the fear of realizing losses, thus reducing downward pressure on the price. This pattern has been observed in multiple markets and asset classes throughout my investment journey. It’s essential for me as an investor to be vigilant and adapt my strategies accordingly, taking into account these market dynamics.

A potential decrease in sales for Fantom might contribute to its recovery. With less sellers offloading their holdings, Fantom has a stronger possibility of preserving its recent advancements and further climbing upwards. This trend could assist Fantom in reclaiming significant price points over the next few weeks.

FTM Price Prediction: Aiming at $1

As an analyst, I’ve observed a significant surge in Fantom’s price over the past 24 hours, climbing approximately 23.88%. This impressive jump has propelled Fantom (FTM) beyond the previous resistance at $0.83. Currently trading at $0.84, the focus now lies on reinforcing this upward trend and preserving its bullish momentum. Maintaining this level is pivotal for fostering market confidence and optimism.

If FTM manages to rebound from its $0.83 base, it might carry on with its upward trajectory. This bounce-back could help FTM recoup around 52% of the losses it suffered during the latter half of December. Regaining $1.03 as a support point would be a notable achievement, boosting investor trust and suggesting that the altcoin has more room for growth ahead.

If the price falls below $0.83, it could lead to a drop to $0.76, which would contradict the bullish forecast and undo some of the recent progress. This could make Fantom susceptible to a more significant slide down to $0.66. Maintaining strong momentum is crucial for preventing additional losses.

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2025-01-02 20:13