The Fantom (FTM) price has recently shown promising growth, but questions remain about how long this uptrend can last. Despite the initial surge, key indicators are starting to hint at a potential weakening of momentum. ADX values have declined, suggesting that the strong bullish trend may be losing steam.
Additionally, while the recent drop in exchange supply provided a boost, subsequent stability in this metric raises doubts about continued upward pressure. The coming days will be crucial in determining whether FTM can sustain its gains or face a reversal towards lower support levels.
Fantom Price Current Trend May Not Last
FTM’s ADX is currently at 28.85, down from 32 just a day ago. This comes after a rapid surge where the ADX rose from 15 to 32 in just two days, reflecting a strong and swift increase in trend strength.
However, the recent decline indicates that the momentum may be losing some of its force, and traders are paying close attention to see if this trend continues downward.
Read more: Fantom (FTM) Price Prediction 2024/2025/2030
The ADX, or Average Directional Index, measures the strength of a trend, regardless of whether it is bullish or bearish. It ranges from 0 to 100, with values above 20 indicating a trending market and anything above 30 signifying a strong trend. FTM’s price surged by 14% in the past seven days, driven by this strong uptrend.
However, the fact that the ADX has decreased from above the 30 threshold suggests that the current upward momentum might be weakening. If the ADX continues to fall, it could imply that the trend is losing strength, potentially signaling an end to the recent bullish rally.
