Fantom (FTM) is attracting significant attention, with its value rising 133.04% in the past 30 days. This growth is supported by a strengthening trend, indicated by the ADX rising sharply to 35.6, signaling strong momentum behind the uptrend.
The growing accumulation by whales, with large holders increasing from 69 to 79 since November 25th, further shows growing confidence in FTM's potential.
Fantom's current trend is strong
The ADX for Fantom rose to 35.6 from 28 the previous day, indicating a strengthening trend in the market. The increase suggests that the momentum behind FTM's price action is growing, and the trend is becoming more established.
This upward movement in ADX reflects increased market participation and conviction, reinforcing the idea that FTM is in a decisive phase of trending activity, likely upward based on recent price behavior.
FTM ADX. Fonte: TradingView
ADX measures the strength of a trend, with readings above 25 signaling a strong trend. At 35.6, FTM's ADX confirms a strong trend, providing evidence that the current uptrend has significant momentum.
This ADX level suggests that the trend is well established and is also likely to continue, making it an important signal for traders looking to capitalize on sustained price movement.
Whales are steadily accumulating MTF
The number of FTM whales increased from 69 on November 25 to 79, reflecting an increase in large holders. This growth suggests increased interest and accumulation by entities with significant purchasing power.
Such a trend in whale activity is typical of a bullish signal, as large holders can influence the market.
Portfolios with between 1,000,000 and 10,000,000 FTM. Source: Santiment
Tracking the whales is important because these large holders often have the resources and insights to shape market trends. An increase in whales often indicates accumulation, which can reduce selling pressure and create a basis for price growth.
The recent surge in FTM whales could signal an imminent price increase. This is because their sustained interest and buying activity could generate scarcity and higher demand, positively impacting the price of FTM.
Fantom Price Prediction: Can FTM Reach $1.50 in December?
Fantom has reached its highest price since March 2022, marking a 28.39% increase in the past seven days. If this momentum continues, it is positioned to test resistance levels at $1.40 and $1.50, potentially achieving another 15% growth.
However, recent performance highlights strong bullish sentiment and market interest, supported by consistently upward price action.
FTM Price Analysis. Source: TradingView
On the other hand, if the current uptrend reverses, Fantom price may revisit key support levels at $1.12 and $0.98.
These levels would serve as critical areas to watch for potential buying interest or stabilization, as a break below them could signal further bearish pressure.
The article Fantom (FTM) Soars as Whales Accumulate appeared first on BeInCrypto.
