Amid the current turmoil in the crypto market, Fantom (FTM) is facing a critical price game. The token is consolidating in the demand area on the chart, and the $961,000 liquidation pool around the $0.88 price level is becoming an important variable affecting its next move. Currently, the price of FTM is running above the support level of the ascending triangle. It is worth noting that this technical pattern is often seen as a potential bullish signal, but the key lies in whether the market can hold the important support level of $0.88.
Why is the market so focused on $0.88?
For Fantom, $0.88 is not just a psychological barrier, but also a point of intersection between technology and market sentiment: the support level of the ascending triangle overlaps with the level of the liquidation pool. If the price can break through and stabilize above $0.88, it will not only inspire market buying confidence, but may also bring a strong rebound in the short term. Once the price falls below $0.88, liquidation orders will be triggered, leading to more selling pressure, which will undermine the current technical structure. This "domino effect" may put Fantom under greater downward pressure, especially when the overall market sentiment has not yet clearly turned.
Exchange outflows fall
Another phenomenon worth watching is the sharp drop in outflows from the Fantom exchange. The flow of tokens from exchanges to private wallets has decreased significantly over the past 24 hours. This metric is often seen as a beacon of investor confidence:
Declining outflows could indicate that market participants prefer to remain on the sidelines, finding the current price range unattractive.
The hesitant market sentiment, reflected in stagnant inflows/outflows, echoes Fantom’s consolidation at key levels.
Behind this situation may be the cautious mentality of investors, who are waiting for clearer trend signals before taking action.
Where will FTM go next?
The future trend of Fantom depends almost entirely on the attack and defense of the key price of $0.88:
If the bulls can successfully defend $0.88, the market will validate the ascending triangle pattern and set the stage for the next bullish move. Such a breakout could spur a pick-up in foreign exchange outflows and investor confidence. On the contrary, if the bearish pressure prevails and the price falls below this level, the triggering of liquidation orders will intensify the downward pressure. Such a scenario may not only undermine the technical pattern but also bring about a deeper market correction.
In the battle between FANTOM price and the $0.88 mark, both short-term traders and long-term investors are faced with a difficult decision of whether to enter the market or wait and see. This key level can be said to be a battlefield for both bulls and bears, and the final breakthrough direction will determine whether FTM will move towards a new round of rise or further bottom out.
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