Fantom: A bull run or a bull trap? These metrics suggest FTM is...
was in a bull trend at the time and a powerful one at that, according to the Relative Strength Index . The RSI line had crossed the overbought boundary and was over 70. Is this a bull run or a bull trap?The observed price chart showed that the price movement so far has been impressive. However, the strength and health of the price change can only be determined by taking into account the volume metric.volume metric revealed a recent uptick in Fantom volume.
It’s also clear that the bulk of the accumulations produced through whale transactions occurred on January 19 and 20. This rather significant increase in the relatively slight FTM price drop suggested that the uptick in January was only getting started.The Mean Dollar Invested Age, which gauges the average age of investments for Fantom, dropped significantly in the second part of February.
The drop in this metric was suggestive that the rally is still very much on. A healthy amount of activity meets this price increase from previously inactive currencies, which is a positive indicator.The Market Value to Realized Value ratio revealed a level that might be both thrilling and a warning. demonstrated a high level of profitability for its owners, with a 30-day MVRV of 61.49%. The 365-day MVRV, which was seen at about 55.83%, likewise demonstrated a significant level of profitability.
Although the MVRV level is thrilling for investors, it is overvalued at its current level in both periods, which suggests that there may be a market correction.
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