Fantom (FTM) is drawing significant attention as one of the day’s top gainers, with its value surging 133.04% over the past 30 days. This impressive growth is supported by a strengthening trend, as indicated by the ADX climbing sharply to 35.6, signaling strong momentum behind the uptrend.
The increasing accumulation by whales, with large holders rising from 69 to 79 since November 25, further shows the growing confidence in FTM’s potential.
Fantom Current Trend Is Strong
The ADX for Fantom has risen to 35.6, up from 28 the previous day, indicating a strengthening trend in the market. The increase suggests that the momentum behind FTM’s price action is growing, and the trend is becoming more established.
This upward movement in ADX reflects heightened market participation and conviction, reinforcing the idea that FTM is in a decisive phase of trending activity, likely upward based on recent price behavior.
The ADX measures the strength of a trend, with readings above 25 signaling a strong trend. At 35.6, FTM’s ADX confirms a strong trend, providing strong evidence that the current uptrend has significant momentum.
This level of ADX suggests the trend is well-established and also likely to continue, making it an important signal for traders looking to capitalize on sustained price movement.
Whales Are Steadily Accumulating FTM
The number of FTM whales has increased from 69 on November 25 to 79, reflecting a notable rise in large holders. This growth suggests increased interest and accumulation by entities with significant purchasing power.
Such a trend in whale activity is typically a bullish signal, as large holders can influence the market.
Tracking whales is important because these large holders often have the resources and insights to shape market trends. An increase in whales generally indicates accumulation, which can reduce selling pressure and create a foundation for price growth.
The recent rise in FTM whales could signal an upcoming price increase. That happens because their sustained interest and buying activity may drive scarcity and higher demand, positively impacting FTM price.
Fantom Price Prediction: Can FTM Reach $1.50 In December?
Fantom has reached its highest price since March 2022, marking a 28.39% increase in the past seven days. If this momentum persists, is positioned to test resistance levels at $1.40 and $1.50, potentially achieving another 15% growth.
The recent performance highlights strong bullish sentiment and market interest, supported by consistent upward price action.
On the downside, if the current uptrend reverses, Fantom price could revisit key support levels at $1.12 and $0.98.
These levels would serve as critical areas to watch for potential buying interest or stabilization, as a breach below them could signal further downside pressure.
Disclaimer
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