Fantom: If FTM Converts This Level Into Support, $0.85 Could Be Next
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FTM’s network activity surged, with the number of new addresses increasing by 35% and the number of active addresses increasing by 10%.
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FTM broke out of a descending symmetrical triangle but is facing strong resistance at $0.56.
Fantom [FTM]
has demonstrated significant strength after successfully breaking out from its descending symmetrical triangle.
The current trading price of FTM stands at $0.5425, reflecting a 6% increase in the last 24 hours. On-chain metrics indicate substantial growth in network activity, which contributes to bullish momentum.
Additionally, there has been a notable uptick of 20.20% in the number of ”in-the-money” holders, suggesting that more investors are capitalizing on profits. Nevertheless, critical resistance levels may still pose hurdles that could influence the token’s forthcoming movements.
The increase in FTM addresses: Is it sufficient?
An analysis reveals that as of now, Fantom’s network activity has escalated significantly, with new address creation climbing by an impressive 35% over the past week – signaling increased adoption and user engagement.
This rise is further corroborated by a ten percent growth in active addresses underlining continued expansion within the network. Nonetheless, an alarming increase of almost 52.86% in zero-balance accounts implies that certain traders might be withdrawing or consolidating their holdings.
This development presents both opportunities and potential risks; if profit-taking escalates it could hinder FTM’s positive momentum moving forward as sustained demand remains essential for retaining current progress levels.
Source: IntoTheBlock (19659017) Transactional activities are indeed evolving—yet where do we stand amidst whale involvement? p >
Recent transaction insights present a diverse tableau: The count for smaller transactions beneath $1 soared by approximately sixty percent indicating burgeoning retail participation.
Transactions spanning between one to one hundred dollars also witnessed a modest rise nearing four point seventy-six percent solidifying engagement from incremental investors.
Conversely mid-sized transaction volumes ranging between $10K through to anything under one hundred thousand exhibited downward trends indicating diminished activities among larger market players.
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Notably transactions exceeding one million have completely dwindled—a chilling drop measuring at near ninety-seven point twenty-two percent demonstrating withdrawal from high-net-worth individuals alongside institutional stakeholders alike.
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* *Source:** IntoTheBlock.*
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The question looms: can Fantom break free from its formidable resistance?)
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Dave observed where he engrossed himself reading into technical analyses noting how recently FTM dedicatedly ventured beyond earlier set limits_structuring-out successful breakout hybrids containing their descendable triangles.
Alongside robust clues concerning upcoming resistances pitching above ranges owned towards prices resting around fifty-six cents firmly testing whether continuation past those otherwise breaks through would afford uncertain projections on charted trajectories.
Currently primary markers captured signify promising signs amid analysis interfaces spotlighting thresholds worth observing going forward
*Levels appearing entice potential upside investigating manner differences/pricing relates into stochastic developments surrounding checks mapping nearer upthrust terrain reaching downsets ahead positioning further relative supportive surroundings portraying upwards tracks cascading moments.*
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