The price of Fantom (FTM) has increased over the past 24 hours, outperforming a declining market. Its ADX index has spiked to 47, signaling a strong trend, and historical data suggests further gains are possible.
The EMA also maintains bullish momentum, with FTM well positioned to continue the uptrend and head towards $1.22. However, if the trend reverses, FTM could test the key support levels at $0.77 or even $0.35 if there is a deeper correction.
Fantom’s Current Trend Is Strong But Could Increase
Fantom’s ADX has spiked to 47 from just 12 over the past four days, signaling a significant increase in trend strength. ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, on a scale of 0 to 100.
Values above 25 indicate a strong trend, with levels exceeding 40, highlighting very strong momentum. The spike in ADX reflects the solidity of FTM’s current uptrend, supported by increased buying pressure.
Although ADX has reached 47, signaling a strong trend, historical data shows that FTM’s ADX could exceed 50 when momentum becomes intense.
If ADX continues to rise, this would signal even stronger bullish momentum, potentially pushing Fantom’s price higher.
Whales Have Stopped Hoarding FTM
FTM whales appear to be slowing down in their accumulation after a spike in activity earlier this month. The number of wallets holding between 1,000,000 and 10,000,000 FTM increased from 69 on November 15 to 74 on November 21, showing an increase in confidence from large holders during that period.
Tracking whale activity is important, as these large investors can influence market trends through their buying and selling behavior.
Since November 21, this number of wallets has stabilized, fluctuating between 72 and 74. This suggests that while whales have maintained their holdings, they are no longer aggressively accumulating.
This stabilization could indicate a pause in Fantom’s bullish momentum, with whales waiting for clearer signals from the market before making further moves. For FTM, this could lead to reduced volatility unless there are new catalysts to re-ignite accumulation.
Fantom Price Prediction: Can It Reach $1.22?
Fantom’s EMAs remain bullish, with short-term lines positioned above long-term lines and price trading above them all.
This arrangement shows strong upward momentum, supported by steady buying pressure. If the current uptrend continues to strengthen, FTM price could rise another 20% and test $1.22, which would mark the highest price since March.
However, if the uptrend reverses, FTM price could face a series of important support levels.
Initial support lies at $0.77 and $0.58, but if these levels fail to hold, the price could drop to $0.35, representing a significant 66% correction.