- Well now, FTM’s network activity is positively buzzing like a hornet’s nest, with new addresses skyrocketing by 35% and active ones popping up by a crisp 10%!
- Hot off the press, FTM has wiggled its way out of a descending triangle, yet it’s met with a stubborn wall of resistance at $0.56. Talk about high stakes poker!
Fantom [FTM] is strutting its stuff after breaking out of its symmetric triangle—oh what a sight to behold! The trading price is sitting at $0.5425 at the moment, reflecting a spiffing 6% boost in the last 24 hours. Those on-chain wonders reveal a jolly growth in network activity, boosting that bullish spirit like a slice of apple pie at a picnic.
What’s more, the number of holders “in the money” has jumped a full 20.20%, meaning there are quite a few happy campers delighting in profits. But hold your horses! Those pesky resistance levels are resembling fortresses, throwing obstacles in the path of FTM’s next grand adventure.
FTM addresses are sprouting like daisies, but is that enough to host a garden party?
As I pen this down, it’s clear as day that Network Activity on Fantom is on an upswing, with New Addresses increasing by a whopping 35% this past week. This signals an adoption fest that could make a cat curious!
And let’s not forget about Active Addresses, creeping up by a sprightly 10%, lending credence to the network’s expansion. But—wait just a cotton-pickin’ minute! There’s a 52.86% jump in Zero-Balance Addresses, which might mean some traders are stocking up their fishing gear or exiting the scene altogether. Who knows?
While this merry dance is all well and good, it could end up dampening FTM’s enthusiasm if profit-takers come a-knockin’. Sustained demand shall be the guardian of its trajectory, lest it tumble into the depths of despair!
Transaction activity is shuffling the decks, but where’d the big fish swim off to?
Transaction data is showing a mixed bag. Those cute little transactions under $1 have surged a staggering 60%, hinting at a retail frenzy. Transactions between $1 and $10 have ticked up by 4.76%, just enough to draw in a swarm of smaller investors.
But hold onto your hats! Transactions in the mid-tier between $10 and $100k have taken a little nosedive, suggesting that the big cheese players are less active than a sloth on a Sunday. And those transactions of over $1 million? Gone like smoke in the wind, having dropped by a marvelous 100%. Looks like institutions are puttin’ their feet up instead of diving into the pool!
Fantom is staring down strong resistance; will it crack under pressure?
Well, blow me down! FTM has broken out of its descending triangle—a bullish signal, if I ever saw one. Now it is testing that critical resistance at $0.56. Will it break through like a rabid bull, or will it flop back down to $0.40-$0.45? Only time will tell.
The coming days would be pivotal in deciding whether FTM continues to soar through the clouds of its ambitions or takes a nosedive into the abyss of rejection!
MVRV Ratio takes a tumble; is profit-taking the new black?
The MVRV Long/Short Difference is dropping like a lead balloon, indicating a shift in the sentimental winds. When this little rascal falls, it often foretells that those wise buyers from the past are now cashing in their chips.
This could stir up a pot of selling pressure, making it tougher for FTM to strut its stuff any higher. Yet, if demand remains a-steady, buyers could swallow up the selling spree and send prices up, up, and away.
Can FTM keep up the jolly good show?
Fantom is pulling off some impressive bullish moves with its rising network activity; it’s as if it’s rehearsing for a grand play. However, with whale transactions slipping through the cracks and a dwindling MVRV ratio, we must proceed with caution, dear reader.
If FTM manages to flip $0.56 on its back like a pancake, it could be rolling toward $0.85. But if not, it might just retrace its steps in a rather ungraceful manner.
In the end, whether this token can hold its head high past resistance will determine its fate in this raucous carnival of cryptocurrency!
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2025-02-18 05:19