- Fantom surges 20% in 48 hours, clearing a crucial Fair Value Gap at $0.435.
- Whale activity spiked 194%, indicating strong accumulation of FTM at discounted prices.
- FTM’s negative MVRV ratio suggests undervaluation, signaling potential price recovery and further gains.
Fantom— FTM, has surged 20% in just two days, catching the market’s attention. The altcoin recently broke through a key price level at $0.435, clearing a crucial Fair Value Gap. This move has sparked strong bullish momentum. But what’s behind this rapid rise, and can FTM continue climbing?
Whale Activity Sparks Bullish Sentiment
A major factor in FTM’s recent rally is the surge in whale activity. Data from IntoTheBlock shows large transactions involving FTM spiked by 194% in just 24 hours. This indicates that big investors are taking advantage of the current discounted price. Historically, such movements often lead to further price gains as smaller traders follow suit.
When whales start accumulating, the price tends to rise, and this could be what’s driving FTM’s bullish momentum. With whales stacking up on FTM, the market might see increased buying pressure in the coming days, potentially pushing prices even higher. The surge in whale transactions signals confidence in FTM’s future.
FTM’s MVRV Ratio Suggests Undervaluation
FTM’s Market Value to Realized Value ratio is another key factor contributing to the rally. Santiment data shows the MVRV ratio is currently at -100%. A negative ratio typically means that many investors are holding FTM at a loss, signaling that the token may be undervalued.
When this happens, traders often step in, hoping to buy at discounted prices before the market rebounds. With the MVRV ratio indicating that FTM is undervalued, buying pressure might increase as investors target higher price levels. If this trend continues, Fantom could be in for a strong recovery.
For now, FTM’s 20% rally is driven by rising whale activity and a favorable MVRV ratio. These signs point to a potential price rebound, with more gains on the horizon. As bullish sentiment builds, FTM could soon target higher resistance levels and continue its upward trajectory.
