Summary
TLDR: Fantom (FTM) price has dropped by 32.79% since March 25 due to decreasing investor interest and rising selling pressures. The number of FTM holders has stagnated, indicating a cooling-off period. The increase in FTM supply on exchanges suggests more selling pressure, potentially leading to further price corrections. A death cross on the EMA chart indicates a potential sell-off, with FTM price predicted to drop to $0.71 and possibly $0.55. Positive developments like Fantom’s Sonic could reverse this trend and lead to a bullish turnaround.
Key Points
1. The Fantom (FTM) price has experienced a notable correction of 32.79% since March 25 amidst signs of decreasing investor interest and potential selling pressures. This downturn is highlighted by the stagnation in the number of FTM holders since last week, pointing towards a cooling-off period.
2. Additionally, the consistent growth in Fantom’s supply on exchanges since March 25 suggests that selling pressures could intensify, with the possibility of further price corrections in the near term.
3. The influx of FTM to exchanges, especially in such a significant amount, suggests that investors might be losing confidence in the token’s short-term price trajectory, opting to liquidate their holdings instead of holding onto them for potential future gains.