Fantom Gains 10% as MVRV Ratio Spikes: Is Another Uptrend Coming?

• Fantom (FTM) gained 10.24% in the last 24 hours
• Santiment data revealed that exchange inflow was down to 293,000 and exchange outflow was higher at 899,000.
• Directional Movement Index (DMI) and Average Directional Index (ADX) indicate potential consolidation for FTM around $0.5 region

Fantom Gains Over 10% In The Last 24 Hours

Fantom [FTM], the smart contract token, gained over 10% in the last 24 hours after holding support. Investors‘ motive towards selling could increase as MVRV ratio spiked. According to ali_charts, who got the data from IntoTheBlock, there was no resistance barrier that could prevent FTM from going upward.

Exchange Flow Overview

Santiment’s data revealed that the exchange inflow was down to 293,000 while its opposite number was higher at 899,000 indicating more accumulation than intention to dump the token.

Technical Outlook For FTM

The technical outlook shown by the Directional Movement Index (DMI) puts FTM in the midst of potential consolidation as +DMI (green), although higher than -DMI (red), did not have the support of Average Directional Index (ADX). The ADX measures directional strength and a value higher than 25 indicates strong directional movement while lower values suggest weak momentum or consolidation. At press time, ADX value is 38.39 but is facing a massive downturn which could drive FTM to swing around $0.5 region.

Towards Bullish Momentum?

For Awesome Oscillator (AO), it seemed that days of bullishness may be over due to repeated red bars signaling an impending bearish momentum.

Market Value To Realized Value Ratio Revived

However, surge seems to have helped investors‘ portfolio as Market Value to Realized Value (MVRV) ratio revived from its lows to hit