Could Fantom [FTM] be on the verge of a breakout after…

ambcrypto.com:

Fantom [FTM] , the smart contract token, could have another shot at a further upswing after it conquered a significant supply level. According to ali_charts, who got the data from IntoTheBlock, there was no resistance barrier that could prevent FTM from going upward. 

— Ali (@ali_charts) February 14, 2023

How many are 1,10,100 FTMs worth today ?

Since the aforementioned tweet, FTM rallied, and gained 10.24% in the last 24 hours. The performance was averagely higher than other DeFi tokens within the same period.

However, the gains did not result in massive selling pressure from FTM investors. This was because Santiment’s data revealed that the exchange inflow was down to 293,000. A spike in this metric would have translated to potential sell off from investors who have recently made profits.

Its opposite number, the exchange outflow, was, however, higher at 899,000. Since the difference was this large, it implied that FTM enjoyed more accumulation than the intention to dump the token.

Source: Santiment

So, does FTM have the capability to stay the green course? Well, the technical outlook shown by the Directional Movement Index (DMI) puts FTM in the midst of potential consolidation. This inference was because the +DMI (green), although higher than the -DMI (red), did not have the support of the Average Directional Index (ADX).

The ADX (yellow) measures the directional strength of an asset. And, a value higher than 25 indicates a strong