![BitTorrent [New]](https://s2.coinmarketcap.com/static/img/coins/64x64/16086.png)
Fantom (FTM) has surged past the critical $0.435 level, gaining 20% in the last 48 hours. On-chain data indicates a rise in whale accumulation, with large transactions increasing by 194%. Technical indicators suggest that if buying pressure continues, FTM could test new resistance levels.
Whale Accumulation Signals Bullish Momentum
After clearing the $0.435 fair value gap, FTM has entered a strong recovery phase. This price action could mark the beginning of a sustained uptrend. The recent 20% price increase suggests renewed investor interest in this altcoin.
On-chain data further highlights increased interest from large investors. According to IntoTheBlock, large transaction volumes have spiked by 194% in the past 24 hours. This trend suggests that whales and institutional investors are accumulating FTM at current price levels. Historically, such whale activity has preceded significant price rallies. If this trend continues, FTM could push higher and test stronger resistance zones.
MVRV Ratio Suggests Undervaluation
Data from Santiment reveals that FTM’s Market Value to Realized Value (MVRV) ratio currently sits at -100%, indicating that most investors are at a loss. A negative MVRV ratio often signals an undervalued asset, which can encourage accumulation and fuel a price rebound.
If this trend persists, FTM’s price could experience further gains in the short term, potentially reaching new highs as market sentiment shifts positively.
Can Fantom Continue Its Uptrend?
Technical indicators and on-chain data suggest that FTM’s bullish trend may continue. The combination of key price breakouts, rising whale accumulation, and a low MVRV ratio highlights the coin’s upside potential.
Rising buying pressure could signal the continuation of a bull market. If the current momentum holds, FTM may break through higher resistance levels and establish new peaks in the coming days.
