Fantom (FTM) Climbs 3% While Whale Sell-Off Puts Recovery at Risk
Author: Content Editor
Fantom (FTM) is facing challenges in its recovery after recent losses, with the price up 3% in the past 24 hours but still down nearly 20% over the last week. The overall market uncertainty and a decrease in whale activity are contributing to these difficulties. The recent decline in the Average Directional Index (ADX) indicates a potential transition to a consolidation phase for FTM rather than continued bearish momentum. However, without renewed buying activity or stronger momentum, the price may continue to hover in a consolidation phase. The decrease in the number of wallets holding between 1 million and 10 million FTM suggests major investors have been selling off their holdings, adding to the selling pressure on the price. If the current downtrend continues, FTM may test critical support levels, but a reversal in the trend could lead to a recovery and potentially push the price above $1.