Summary
TLDR: Fantom (FTM) has seen a surge in profitable holders, reaching 55%, which historically led to an 858% increase in price in less than four months. The current positioning of FTM Exponential Moving Average lines suggests a neutral outlook, with potential for future volatility. Short-term traders are increasing their FTM holdings, hinting at heightened price volatility. The price may consolidate or break out above $1, with strong support at $0.54.
Key Points
1. Fantom (FTM) has seen a notable surge in the percentage of profitable holders, reaching 55%, which historically led to an 858% increase in FTM price in less than four months, indicating a potential upcoming price movement.
2. There has been a significant rise in the FTM supply held by traders, hinting at the possibility of future volatility. The current positioning of FTM Exponential Moving Average (EMA) lines provides a neutral outlook, with short-term EMAs above long-term lines but below the price line, giving a mixed signal on the asset’s immediate direction.
3. The FTM price prediction suggests a key resistance at $0.98, and if broken, the price could continue to rise above $1 for the first time since April 13, 2022. However, consolidation is also possible as both short-term EMAs are below the current price, indicating a potential for a price correction.