FANTOM

Fantom (FTM) is battling to recover from significant losses. The token gained 3% in the last 24 hours but remains down 20% for the week. Broader market uncertainties and reduced whale activity continue to weigh on its performance.

Hovering near key support levels, FTM’s future depends on whether buyers can regain momentum and trigger a sustained rally.

Downtrend Shows Signs of Weakening

The Average Directional Index (ADX) for Fantom has dropped from 36.9 to 31.4, indicating a weakening downtrend. The ADX measures trend strength on a scale of 0 to 100, with values above 25 signaling a strong trend.

While the downtrend’s intensity is fading, Fantom has yet to establish a clear direction. This could lead to reduced volatility, offering the market a chance to stabilize. If this trend holds, FTM may enter a recovery phase or trade within a range. However, without renewed buying interest, the token risks prolonged consolidation or further declines.

Whale Activity Declines Sharply

A significant drop in large FTM wallet holdings signals waning confidence among major investors. Wallets holding 1 million to 10 million FTM have fallen from 84 to 69 since January 3. This marks the lowest number of whale wallets since November 2024.

Whales often influence market sentiment and liquidity. Accumulation typically reduces supply and drives prices higher, while a decline can indicate profit-taking or liquidation, leading to downward pressure. Unless whale activity stabilizes or reverses, FTM’s recovery efforts may face additional hurdles.

FTM Price Prediction: Can It Reclaim $1?

If the downtrend continues, FTM may test critical support at $0.618. A break below this level could push the price below $0.60 or even to $0.50.

On the upside, a reversal could help FTM challenge resistance at $0.879. Breaking above this level may reignite bullish momentum, potentially pushing the price above $1 for the first time since December. Sustained rallies could even see FTM target $1.05, signaling renewed investor confidence and a potential uptrend.

Fantom (FTM) has defied a sluggish market, climbing higher in the last 24 hours. Key indicators like the Average Directional Index (ADX) and Exponential Moving Averages (EMAs) suggest strong bullish momentum. However, slowing whale activity raises questions about how far FTM’s rally can go.

FTM Trend Strength Hits High Levels

The ADX for Fantom has jumped to 47 from just 12 in the past four days. This sharp increase highlights the strength of FTM’s current trend.

• What is ADX?
  The Average Directional Index measures trend strength, regardless of direction, on a scale of 0 to 100.
  • Values above 25 indicate a strong trend.
  • Readings over 40 suggest very strong momentum.

FTM’s ADX of 47 signals a powerful uptrend, backed by rising buying pressure. Historical data shows that FTM’s ADX can exceed 50 during periods of heightened momentum. If this trend continues, FTM could experience further gains.

Whale Accumulation Slows Down

Fantom’s large holders, or “whales,” increased their holdings earlier this month, with wallets containing 1,000,000–10,000,000 FTM growing from 69 to 74 between November 15 and November 21.

• Key Observations:
  • Whale activity has since stabilized, with wallet numbers fluctuating between 72 and 74.
  • This suggests whales are maintaining their holdings but are no longer aggressively buying.

Reduced whale activity could signal a pause in FTM’s bullish momentum. Without new market catalysts, this stabilization might lead to reduced price volatility in the short term.

Price Prediction: Can FTM Hit $1.22?

Fantom’s EMA lines remain bullish, with short-term EMAs above long-term ones. This alignment reflects strong upward momentum.

• Bullish Scenario:
  If buying pressure persists, FTM could gain another 20% and test $1.22, its highest price since March.
• Bearish Scenario:
  A trend reversal might push FTM toward key support levels:
  • Initial support: $0.77 and $0.58.
  • Strong support: $0.35, which would mark a significant 66% correction.

$FTM Update

This is not enough

Send it to $5 pic.twitter.com/ysYAHDaQnT

— Scofield (@Crypto_Scofield) November 26, 2024

Conclusion

Fantom’s price surge is supported by strong technical indicators, but whale activity suggests caution. Whether FTM breaks past $1.22 or tests lower support will depend on market momentum and external catalysts.