The post Fantom’s Network Activity Surge Sparks Speculation of Potential Price Recovery Amid Mixed Technical Signals appeared on BitcoinEthereumNews.com.

Fantom (FTM) shows signs of renewed market interest as network activities surge, sparking hopes for a potential price recovery. Despite a recent price decline of 2.16%, increased blockchain activity and positive market sentiment might signal a reversal. According to COINOTAG, “The combination of bullish liquidations and rising user engagement indicates that FTM may bounce back.” Explore how Fantom’s recent surge in activity and bullish trends could indicate a possible price recovery for FTM, despite current market challenges. Can FTM break free from its current range? FTM is currently trading in a narrow price range, with robust support at $0.7316 and significant resistance at $0.9671. A decisive breakout above this upper level could propel the price towards $1.08, a threshold known for its psychological impact among traders. Conversely, if FTM fails to maintain momentum and loses support, it could be heading for a downturn. The descending triangle pattern forming on the charts hints at a significant price movement on the horizon. Hence, the forthcoming trading sessions will be critical in determining the asset’s direction. Source: TradingView Is network activity hinting at a bullish future? Fantom’s recent data reveals a surge in blockchain activity, with new addresses increasing by 38.46%, active addresses up by 23.52%, and zero balance addresses rising sharply by 63.51% over the past week. This spurt in activity suggests a burgeoning interest within the ecosystem, potentially positioning FTM for enhanced long-term valuation. However, maintaining this growth trend is imperative to sustain bullish momentum, marking network activity as a key metric for further analysis. Source: IntoTheBlock MVRV ratio signals potential undervaluation The latest Market Value to Realized Value (MVRV) ratio, currently at 17.39%, indicates diminished profitability for FTM holders. Historically, such decreases have commonly signaled periods of significant price movement due to perceived undervaluation, thereby attracting potential buyers eager to…

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Filed under: News - @ December 29, 2024 8:13 pm