- FTM’s network activities have increased new addresses by 35% and active addresses rose by 10%.
- The FTM broke up in a downtown triangle but faced a strong resistance of $ 0.56.
Phantom (FTM) After getting out of the triangle, it showed signs of power.
The FTM has been traded at $ 0.5425 in sidewalks, reflecting a 6% increase over the last 24 hours. The hot chain data showed significant growth of network activities and added a strong momentum.
In addition, the number of “money” owners increases by 20.20%, which means that more investors are gaining profits. However, the main resistance level still raises the challenge to determine the next movement of the token.
The FTM address is growing, but is it enough?
At the time of writing, FANTOM’s network activities surged and new addresses increased 35% last week. This is often optimistic indicators with signals that adopt and user participation.
In addition, the number of active addresses has increased by 10%to strengthen the expansion of the network. However, according to a 52.86%jump in an unbalanced address, some traders can terminate or integrate their funds.
This is a positive development, but it can generate profits to slow the amount of FTM’s exercise. Continuous demand is important for maintaining the current trajectory.
Source: INTOTHEBLOCK
The trading activity is changing, but where is the whale?
Transaction data presents a mixed picture. Small transactions of less than $ 1 have increased by 60%, increasing retail activities. The transactions between $ 1 and $ 10 also increase by 4.76%, suggesting the inflow of small investors.
However, the medium -sized transactions between $ 10 and $ 100K fall, showing that large players are less active.
Meanwhile, transactions that exceeded a million dollars have disappeared entirely and decreased 100%. This change indicates that institutions and investors with worthwhile are staying in a side job.
Source: INTOTHEBLOCK
Phantom faces strong resistance. Can you break through?
The FTM was successfully broken in an optimistic signal, a lowering symmetry triangle. The price is currently testing an important resistance at $ 0.56, which determines the short -term direction. If you break through, the main levels are $ 0.85 and $ 1.43.
However, if you do not have $ 0.56 or more, you can get a fullback of $ 0.40 to $ 0.45. Market momentum is advantageous for the bull, but it is necessary to remove the resistance level for continuous rise.
On the coming days, it is important to determine whether the FTM will continue to climb or continue to refuse.
Source: TradingView
Reduced MVRV ratio; Is the profit in progress?
The difference between MVRV Long/Short has dropped sharply and indicates a change in market emotions. When this metrics decrease, the merchant who often purchases low merchants indicates that it is now gaining profit.
This causes sales pressure to make the FTM more difficult to push.
Also, if you continue to profit, tokens can struggle to maintain recent profits. However, if the demand is still strong, the buyer can absorb sales pressure and increase the price.
Source: Santiment
Can FTM maintain a rally?
FANTOM shows a strong strong signal with network activities and brake out with major technology patterns. However, the reduction of whale trading and the decrease in MVRV ratio are cautious.
If the FTM supports $ 0.56, it can be pushed to $ 0.85. If you don’t do that, you can reverse.
The ability of the token to maintain the above resistance determines the following movement.