Summary
TLDR: The dwindling supply of FTM among traders suggests a shift towards accumulation by mid-term and long-term holders, indicating confidence in FTM’s future prospects. Despite being in the overbought zone, positive market sentiment and bullish trends suggest FTM could reach a 2-year high soon. The movement of FTM tokens between traders and investors indicates a transition to longer-term holding strategies, with potential for price growth. If FTM breaks through resistance levels, a surge towards $1.50 is possible, but a downtrend could see prices drop to $0.70 or below.
Key Points
1. The dwindling supply of FTM among traders indicates a shift towards accumulation by mid-term and long-term holders, reflecting increased belief in FTM’s future prospects.
2. The FTM price is supported by positive market sentiment, with the 7-day RSI showing high investor interest despite being in the overbought zone. The EMA lines suggest a potential bullish trend that could lead FTM to reach a 2-year high soon.
3. The movement of FTM tokens between different types of holders signals changing investor behavior, with short-term traders reducing their holdings while mid-term holders are increasing theirs. This shift in ownership suggests growing confidence in FTM’s future potential and a transition towards longer-term investment strategies.