Fantom (FTM) has witnessed a strong bullish resurgence, rallying 20% over the past 48 hours after clearing the critical Fair Value Gap (FVG) around $0.435. This key price level appears to have acted as a launchpad for a potential extended uptrend, with on-chain metrics reinforcing the growing optimism.
Whale Accumulation Surges by 194%
One of the most compelling indicators of FTM’s bullish outlook is the sharp increase in whale transactions. Data from IntoTheBlock reveals a 194% surge in large transactions over the past 24 hours, signaling that major investors are accumulating FTM at current discounted prices. Historically, similar whale activity has preceded significant price movements, suggesting that Fantom could sustain its upward momentum in the coming days.
MVRV Ratio Hints at Undervaluation
Further supporting the bullish case for FTM is its Market Value to Realized Value (MVRV) ratio. According to Santiment data, FTM’s MVRV ratio currently sits at -100%, indicating that the asset is significantly undervalued. A negative MVRV ratio suggests that many investors are holding at a loss, often a precursor to a price rebound as buyers seek to capitalize on discounted entry points.
Is a Further Bull Run on the Horizon?
Fantom’s strong price recovery, coupled with increased whale accumulation and a favorable MVRV ratio, paints a promising picture for its near-term performance. If buyers continue to dominate, FTM could challenge higher resistance levels, potentially setting the stage for a broader rally.
Technical indicators suggest that momentum remains firmly in favor of the bulls. If the current uptrend persists, FTM may soon test its next key resistance zone, reinforcing the positive sentiment among traders and investors.
Also Read: Fantom (FTM) Surges 20%: Will the $0.84 Resistance Break and Lead to a New Rally?
Fantom’s breakout above the Fair Value Gap, coupled with heightened whale activity and undervaluation signals, indicates strong bullish potential. If these trends continue, FTM could sustain its rally and aim for higher price levels in the short term. Traders should watch for key resistance levels to confirm whether the bullish momentum will extend further.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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