Market
Fantom (FTM) Price Gains Momentum as the Market Declines
Fantom (FTM) price has risen in the last 24 hours, outperforming a declining market. Its ADX has surged to 47, signaling strong trend momentum, and historical data suggests it could rise even 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 above 25 indicate a strong trend, with levels exceeding 40, highlighting very strong momentum. This sharp rise in ADX reflects the robustness of FTM’s current uptrend, which is supported by increasing buying pressure.
Although an ADX of 47 already signifies a strong trend, historical data suggests FTM’s ADX can exceed 50 during periods of intense momentum.
If the ADX continues to climb, it will signal even stronger bullish momentum, potentially pushing the Fantom price higher.
Whales Stopped Accumulating FTM
FTM whales appear to be slowing their accumulation after a surge in activity earlier this month. The number of wallets holding between 1,000,000 and 10,000,000 FTM grew from 69 on November 15 to 74 by November 21, indicating increased confidence among large holders during that period.
Tracking whale activity is critical, as these large investors can significantly influence market trends through their buying and selling behavior.
Since November 21, however, the number of these wallets has stabilized, fluctuating between 72 and 74. This suggests that while whales have maintained their holdings, they are no longer aggressively accumulating.
This stability could indicate a pause in Fantom’s bullish momentum, with whales waiting for clearer market signals before making further moves. For FTM, this could result in reduced volatility unless new catalysts emerge to reignite accumulation.
Fantom Price Prediction: Can It Reach $1.22?
Fantom EMA lines remain bullish, with the short-term lines positioned above the long-term ones and the price trading above all of them.
This alignment indicates strong upward momentum, supported by consistent buying pressure. If the current uptrend continues to strengthen, FTM price could gain an additional 20% and test $1.22, marking its highest price since March.
However, if the uptrend reverses, FTM price could face a series of critical support levels.
Initial supports lie at $0.77 and $0.58, but if these fail, the price could drop to $0.35, representing a significant 66% correction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.