CandleFocus What’s next for Fantom (FTM) price as whale transactions jump 1,000%
2024-10-16
Author: Content Editor
Fantom (FTM) has seen significant price increases in recent sessions, with gains of 8% and 55% on its weekly and monthly charts respectively. The uptrends were fueled by broad market sentiments and increased whale activity, with large-scale transfers impacting FTM's performance. Data shows a 1,056% increase in transactions worth over $100,000, indicating asset purchases by large-scale investors and confirming confidence in Fantom's potential. Short seller liquidations also contributed to FTM's rally, with forced purchases by short sellers driving upside strength. The altcoin's 24-hour short liquidations reached $883.3K, and it has seen notable uptrends, trading at $0.7636 at the time of publication. If FTM can maintain momentum and hold above the $0.75 support barrier, further gains are expected. However, failure to do so could result in bearish actions. Market experts predict explosive gains for the overall crypto market, with Bitcoin potentially reaching $280,000, which would likely impact altcoins like FTM.
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