Due to the number of whale wallets hitting a monthly low, Fantom (FTM) fell 12%
As the network shifts to the new token Sonic, the price of Fantom (FTM) has dropped over 12% in the past 24 hours. This sharp decline has exacerbated FTM's ongoing downtrend, with technical indicators like ADX highlighting that bearish momentum is strengthening.
Meanwhile, the number of whale wallets holding between 1 million and 10 million FTM has steadily decreased, reflecting a decline in confidence among large holders. As FTM approaches the key support level of $0.84, traders are closely watching for a potential drop to $0.64 or a rebound to resistance levels of $1.13 and above.
Fantom's current downtrend shows its strength
FTM's ADX (Average Directional Index) is currently at 39.94, a significant increase from below 20 two days ago. This surge indicates that the strength of the current trend has significantly intensified in a short period.
Given that the price of FTM is currently in a downtrend, the high level of ADX suggests that bearish momentum is intensifying, which may cause the price to continue facing downward pressure in the short term.
Recently, I've been planning to lay low for a potential coin that is ready to explode, doubling my investment seems quite simple, and I'm also looking for some potential coins to hold until the end of the year, with an expected growth of over 10 times being quite feasible. If you want to keep up, follow me, leave a message, like, and share.