- Crypto trader Ali tweeted that there has been some interesting on-chain activity for Fantom.
- Recent on-chain data shows that approximately 246 million FTM tokens have been redistributed.
- FTM’s price is currently resting on a key support level.
The crypto trader Ali tweeted today that on-chain data from Santiment shows more than 246 million Фантом (ФТМ) tokens were sold or redistributed over the past week. The tweet added that the total amount is approximately worth $113.2 million.
The trader posted a second tweet related to the altcoin today. According to the tweet, there has been some “intriguing network activity” on the Fantom blockchain. Furthermore, on-chain data shows that there has been a significant spike in idle FTM tokens exchanging hands.
At press time, the price of FTM has risen 4.79% over the last 24 hours according to CoinMarketCap. As a result, FTM’s price stands at $0.4612.
Not only did FTM strengthen against the U.S. Dollar over the last 24 hours, but it also strengthened against the two crypto market leaders, Битцоин (БТЦ) и Етхереум (ЕТХ). FTM is currently up 5.25% against BTC and around 5.95% against ETH.
The price of FTM is resting on the daily support level at $0.04248 after dropping below the 9-day and 20-day EMA lines on 8 February, 2023.
Технички показатељи то говоре ФТМ-ова цена is currently in a bearish cycle. The first technical indicator that suggests this is the MACD Signal line positioned below the MACD SMA line. However, the MACD Histogram suggests that the bearish cycle may be reaching its peak.
On the other hand, the 9-day EMA line is looking to cross bearishly below the 20-day EMA line. Should this happen, then FTM’s price will likely continue to drop in the coming days. As such, FTM’s price may look to target the next support level at $0.3581. The latest flow of FTM onto exchanges may be an early sign of a sell-off for the altcoin.
odricanje: Ставови и мишљења, као и све информације објављене у овој анализи цена, објављују се у доброј намери. Читаоци морају сами да истражују и обаве дужну пажњу. Свака радња коју предузима читалац је стриктно на сопствени ризик. Цоин Едитион и његове филијале неће се сматрати одговорним за било какву директну или индиректну штету или губитак.
Source: https://coinedition.com/ftms-price-rests-on-key-support-level-after-spike-in-chain-activity/