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Fantom

<p><strong>Fantom </strong>was one of the better-performing <a href="https://www.thecoinrepublic.com/2024/07/10/19-year-old-millionaire-crypto-scammer-shares-scamming-tricks/">crypto</a> assets in the last 24 hours, with double-digit gains. Although it succeeded in registering a <strong>recovery </strong>from the bottom, it is still in the downward region.&nbsp;</p> 
<p>Following the price recovery, the blockchain network activity was also due to the several advancements in the ecosystem last week.</p> 
<p>Meanwhile, the token was traded in a bearish trend, and the decline continued over the past few months. Notably, it has fallen toward its 52-week lower trajectory support zone around $0.3500, and bulls have tried to defend the gains there.</p> 
<p>Undoubtedly, the short-term trend was still in favor of the bear cartel, while on every dip, bounces were also there. Once the Fantom price recaptures the $0.6000, it will regain strength and recover ahead.</p> 
<p>On the contrary, further downside could be seen if sellers succeed in pushing <strong>FTM price </strong>below the $0.3500 mark.</p> 
<h2 class="wp-block-heading" id="h-is-fantom-s-recovery-imminent"><strong>Is Fantom’s Recovery Imminent?</strong></h2> 
<p>During the week, bears were still in control of the overall market, while Fantom Bulls decided to do the opposite, as its daily and weekly charts displayed a recovery and offered some greens.</p> 
<p>At press time, the <strong>FTM </strong>price was trading at $0.479 with an intraday surge of 9.36%, reflecting a recovery on the chart. It has a monthly return ratio of -30.20% and 70.20% yearly, reflecting short-term weakness.</p> 
<p>The pair of FTM/BTC is at 0.00000816 BTC, and the market cap is $862.79 Million. When writing, analysts were neutral and suggested that the <strong>FTM price</strong> may register a range breakout and retain the mark of $3.</p> <iframe loading="lazy" title="Santiment Chart: Price (FTM), Volume (FTM)" width="800" height="425" src="https://embed.santiment.net/chart?ps=fantom&amp;pt=FTM&amp;df=2024-01-10T18%3A29%3A59.707Z&amp;dt=2024-07-10T18%3A29%3A59.707Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The daily charts showed that the <strong>FTM price </strong>had defended the support zone of $0.3500 and initiated a bounce from the bottom. Fueled by the buyer accumulation, the token was trying to stretch the pullback toward its 20-day EMA mark at press time.</p> 
<p>Notably, the RSI curve displayed a <strong>positive divergence, </strong>indicating an imminent potential recovery. Similarly, the MACD indicator highlighted the bullish crossover on the chart.</p> 
<p>@Muneeb, in his Tweet said:</p> 
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FTM</a> <br>I am Accumulating, are u? <a href="https://t.co/7XMfy1iJJS">pic.twitter.com/7XMfy1iJJS</a></p>— 𝑀𝓊𝓃𝑒𝑒𝒷 (@MirMuneeb55) <a href="https://twitter.com/MirMuneeb55/status/1810744371261866326?ref_src=twsrc%5Etfw">July 9, 2024</a>
</blockquote>  
<h2 class="wp-block-heading" id="h-development-activity-showed-a-surge"><strong>Development Activity Showed A Surge</strong></h2> 
<p>One of the most important metrics, development activity, indicated that the developers persisted in launching the new features, which might fuel the price recovery ahead.</p> 
<p>It continued to sprint and reached the blue sky zone around 96, conveying a positive outlook.</p> <iframe loading="lazy" title="Santiment Chart: Development Activity (FTM), Dev. Activity Contributors Count (FTM), Total Amount Of Holders (FTM)" width="800" height="425" src="https://embed.santiment.net/chart?ps=fantom&amp;pt=FTM&amp;df=2024-01-10T18%3A29%3A59.707Z&amp;dt=2024-07-10T18%3A29%3A59.707Z&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity%3Bdev_activity_contributors_count%3Bholders_distribution_total&amp;wax=0%3B1%3B2&amp;wc=%238358FF%3B%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Its contributors count persisted in putting efforts, showing a rise of over 13% to 54. Similarly, the number of holders kept rising and surged to 114k.</p> 
<h2 class="wp-block-heading" id="h-network-growth-and-active-addresses-showed-a-dip">Network Growth and Active Addresses Showed a Dip</h2> 
<p>Per the Santiment data, the <strong>network growth </strong>data witnessed a dip, highlighting that new addresses have lost interest in the token.</p> <iframe loading="lazy" title="Santiment Chart: Network Growth (FTM), Active Addresses 24h (FTM), Velocity (FTM)" width="800" height="425" src="https://embed.santiment.net/chart?ps=fantom&amp;pt=FTM&amp;df=2024-01-10T18%3A29%3A59.707Z&amp;dt=2024-07-10T18%3A29%3A59.707Z&amp;emcg=1&amp;emhwm=1&amp;wm=network_growth%3Bactive_addresses_24h%3Bvelocity&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Similarly, the active addresses data witnessed flat movements and conveyed mixed cues, and neither the bulls nor the bears maintained their upper hand.</p> 
<p>The notable spike in <strong>velocity </strong>value indicated the increase in transfers at the time of writing. It means there is a high increase in activity involving Fantom.</p> 
<h2 class="wp-block-heading" id="h-total-value-locked-revealed-a-slight-dip">Total Value Locked Revealed a Slight Dip</h2> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXercHXV8VGbEaXyg-_T7sWy8Dzvf-csNN342yVS8vin6NQOxgY6VB75JYBosfsLl-NyzzcSNm40xGtIdJEzZaT1ZiVLZZrk8M9QqT6NeRvurrjCr-zNxXyW2Nn7h94c7QGITRQlfWHa_1uXgfVItE_-vOWC?key=0RGhzaPb7ZPFRqrD3Ej4Pg" alt="TVL Data&nbsp; Source: Artemis">
 <figcaption class="wp-element-caption">
  TVL Data&nbsp; Source: Artemis
 </figcaption>
</figure> 
<p>The recent decline in the <strong>TVL </strong>data signifies that market participants were cautious about adding liquidity to the token.</p> 
<p>As of now, the TVL of the token was noted at $102.5 million, a dip of over 8% in the last 24 hours.</p> 
<p>If the downward trendline hurdle was not breached, the token could continue trading in the downtrend.</p> 
<p>The immediate support levels for the <strong>Fantom token</strong> at press time were $1.80 and $1.30, whereas the key upside hurdle was around $2.40, followed by $3</p> 
<h2 class="wp-block-heading" id="h-is-fantom-a-safe-buy-on-dip-opportunity-now"><strong>Is Fantom a Safe Buy on Dip Opportunity Now?</strong></h2> 
<p>The Fantom token price witnessed a steady recovery, and the bulls attained consecutive gains this week. Amidst the bearish sentiment across the market, the token revived from the bottom and anticipated a recovery ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/10/ftm-price-regains-momentum-soared-10-intraday-whats-next/">FTM Price Regains Momentum &amp; Soared 10% Intraday: What’s Next?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

FTM Price Regains Momentum & Soared 10% Intraday: What’s Next?

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