• Fantom (FTM) underwent a bullish surge of 10.24% in the last 24 hours and is currently facing potential consolidation.
• Exchange inflow was down to 293,000 while the exchange outflow was higher at 899,000 implying more accumulation than sell off.
• Technical indicators such as Directional Movement Index (DMI), Average Directional Index (ADX), and Awesome Oscillator (AO) suggest FTM could swing around $0.5 region in the near future.
Fantom (FTM) Witnesses Bullish Surge
Fantom [FTM], the smart contract token, gained over 10% in the last 24 hours after holding support. Investors‘ motive towards selling could increase as MVRV ratio spiked up but so far FTM enjoyed more accumulation than intention to dump the token.
Technical Outlook For FTM
The technical outlook shown by Directional Movement Index (DMI) puts FTM in the midst of potential consolidation because +DMI was higher than -DMI but did not have the support of Average Directional Index (ADX). The ADX measures directional strength of an asset with value higher than 25 indicating strong directional movement and vice versa. At press time, it stood at 38.39 which suggests downtrend for FTM’s trend since its glory days of bullishness seem to be over as per Awesome Oscillator (AO).
Exchange Inflow & Outflow Analysis
As per Santiment’s data, exchange inflow was down to 293,000 while its opposite number, exchange outflow was higher at 899,000 implying more accumulation than sell off for FTM which further strengthened investors‘ portfolio as Market Value to Realized Value (MVRV) ratio revived from its lows to hit 2 marks recently.
How Many are 1,10 & 100 FTMs Worth Today?
Currently 1 FTM is worth around $0.4945 USD and 10 FTMs would amount to approximatley $4.945 USD while 100 FTMs would cost around $49.45 USD at press time according to CoinGecko’s data on Fantom price chart movements today.
Overall Fantom witnessed a bullish surge of 10+% in last 24 hours and is currently facing potential consolidation due to prevailing technical indicator readings along with positive exchange inflows & outflows analysis which resulted in MVRV ratio revival from its lows recently giving investors a hope that it might swing around $0.5 region soon enough if market conditions remain same or similar as current ones today!