- Fantom’s price tested key levels, with increased network activity signaling potential recovery.
- Market sentiment showed optimism as bullish liquidations and technical indicators hinted at a reversal.
Fantom [FTM], trading at $0.7934 at press time with a 2.16% drop in the past 24 hours, continued to spark interest despite its current downtrend.
Recent network data showed increased activity, raising the question: Could this mark the beginning of a price reversal?
Can FTM break free from its current range?
FTM’s price remained within a tight range, with critical support at $0.7316 and resistance at $0.9671. A breakout above this resistance could push the price toward $1.08, a level with significant psychological importance.
However, failure to hold the current support could lead to further losses. The descending triangle pattern visible on the charts suggests a major price move may be imminent.
Therefore, the next few trading sessions could determine FTM’s short-term trajectory.
Source: TradingView
Is network activity hinting at a bullish future?
Fantom’s blockchain activity surged at press time, with new addresses rising by 38.46%, active addresses increasing by 23.52%, and zero balance addresses growing by 63.51% in the past week.
This increase reflected growing interest and participation in the ecosystem, which could bolster FTM’s long-term value.
However, while these numbers looked promising, consistent growth will be essential to sustaining bullish momentum. Therefore, network activity remains a key indicator to watch.
