FTM’s on-chain metrics are bullish
However, this bullish outlook is further supported by on-chain metrics. FTM’s long/short ratio currently stands at 1.0597, indicating strong bullish sentiment among traders. Additionally, FTM’s future open interest has surged 25% over the past 24 hours, indicating growing interest among traders and investors following the bullish breakout.
Traders and investors often use the combination of increased open interest and a long/short ratio above 1 to enter long/short positions.
Currently, 51.5% of top traders hold long positions, while 48.5% hold short positions. These data indicate that bulls are dominating the asset and are likely to support the upcoming price increase.
