Market
Fantom (FTM) Rises 10% in 2 Days: What’s Fueling the Increase?
Exploring the current technical landscape of Fantom unveils fascinating insights within the 4H Ichimoku cloud.
Pairing this with a closer look at exchange netflows paints a comprehensive picture of FTM’s potential. Join BeInCrypto as we delve into this analysis together.
Fantom Technical Outlook
On the 4-hour chart, Fantom seems to be consolidating within the Ichimoku cloud, currently testing its upper edge.
The $0.78 to $0.81 range is crucial as it aligns with three key indicators: the 100-day EMA, the 200-day EMA, and the Ichimoku cloud’s 4-hour baseline.
If the price drops below the cloud, Fantom may find support in this range, but a clear break beneath it could signal a shift from bullish to bearish sentiment. Conversely, if the price remains within the cloud and breaks above it, this could suggest a surge in bullish momentum and higher volatility.
Read More: What Is Fantom (FTM)?
The RSI is fluctuating around 60 and trending upwards. This suggests that bullish momentum is building.
Looking at the Fantom daily chart, there’s a bullish signal. The price recently moved above the Ichimoku cloud’s baseline, indicating a possible mid-term uptrend. Currently, the price is comfortably within the cloud, providing additional support.
If the price breaks above the cloud’s upper boundary at $0.88, it could push towards $0.97. However, FTM might test the cloud’s lower boundary if the price reverses. This support zone could act as a hurdle, but a clear break below it might drop the price to the 100-day EMA at $0.73.
A further decline below the 100-day EMA could lead to a sharp fall towards the stronger support level at $0.647.
Analyzing Fantom Exchange Netflows
Examining the netflows of FTM exchanges, we see a noticeable pattern of net outflows. This suggests that investors are acquiring Fantom and subsequently transferring their holdings away from exchanges, opting for private wallets or alternative storage methods.
Read More: Fantom (FTM) Price Prediction 2024/2025/2030
When holders move their assets off exchanges, it typically reduces the available pool for trading, thereby exerting upward pressure on the price. The continued occurrence of negative net flows indicates a strong belief in FTM’s potential.
Investors opt to hold onto their tokens for the long term rather than engage in short-term exchange-based transactions. This cycle of accumulation and withdrawal corresponds with the observed healthy uptrend in FTM’s value.
Strategic Recommendation
If the price returns to the 4-hour Ichimoku cloud, it may signal caution for traders and investors. The cloud acts as support and resistance, indicating shifts in market sentiment. Re-entering the cloud after a bullish run suggests a potential shift to neutral or bearish sentiment.
Monitoring the cloud’s interaction with the price is crucial, especially if the price struggles to break above it. This indicates weakening bullish momentum and a possible trend reversal.
The $0.78 to $0.81 range, aligned with Fibonacci retracement levels, adds weight to this cautionary outlook. Traders should watch how the price behaves around these levels and the cloud boundaries, as failure to break above could reinforce a bearish bias and lead to a trend reversal.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Why These Altcoins Are Trending Today — January 22
With Donald Trump assuming office as the US President, the crypto market has experienced heightened volatility. While some altcoins have surged, others have faced significant crashes, and many are gaining attention due to recent developments.
BeInCrypto has analyzed three altcoins that have been trending over the past 24 hours and explored what might lie ahead for them in the coming days.
United States Donald Trump (TRUMP)
TRUMP has captured significant attention this week as the official cryptocurrency token of US President Donald Trump. Since its launch, the token has gained immense traction and is now ranked 24th among the top 100 cryptocurrencies, marking a swift rise in prominence within the market.
The token recently hit an all-time high (ATH) of $79 and is currently trading at $41. If TRUMP can secure $45 as a support level, it may resume its upward momentum and make another attempt at its ATH, signaling strong bullish sentiment among investors.
However, profit-taking could pressure the token, preventing it from surpassing $45. A drop below this critical level could lead to a decline under $34, potentially invalidating the bullish outlook. In a worst-case scenario, TRUMP might fall to $26, reflecting a significant shift in market sentiment.
World (WLD)
World (WLD) captured investor attention following the announcement of Sam Altman’s OpenAI collaboration with Oracle and SoftBank. Together, they plan to invest $500 billion in US AI infrastructure under the Stargate Project, supported by President Trump. This strategic move has bolstered confidence in WLD, positioning it as a trending altcoin.
WLD’s price surged by 12% in the past 24 hours, driven by the positive sentiment surrounding this partnership. This rally could enable the altcoin to reclaim its 4-month-old uptrend line as support. If achieved, WLD might target $2.55 in the coming days, reinforcing its bullish momentum.
However, if WLD fails to breach the $2.17 resistance, it risks losing traction and falling back to $2.00 or lower. A further decline to $1.74 could completely invalidate the bullish outlook, signaling a potential shift in market sentiment against the cryptocurrency.
Bonk (BONK)
BONK has surged into the spotlight following the inauguration of the US Department of Government Efficiency (D.O.G.E.), which spurred renewed interest in dog-themed meme coins. This development has elevated BONK’s status in the crypto market, drawing significant attention from both retail and institutional investors seeking speculative opportunities.
The token recorded an 8% increase, trading at $0.00003236 and eyeing $0.00003151 as a critical support level. Securing this floor would strengthen the meme coin’s recovery prospects, potentially attracting more bullish momentum.
However, failure to hold the $0.00003151 support could lead to a decline toward $0.00002748. This drop would only invalidate the bullish outlook and also signal a broader loss of confidence in the token’s recovery potential.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ethereum Price Can Reach $3,500 On The Back Of These Factors
Ethereum, the second-largest cryptocurrency, recently failed to breach $3,524, triggering a sharp price drop. Since then, recovery efforts have remained weak as volatility persists.
However, the current conditions suggest Ethereum may be preparing for a comeback as the market stabilizes.
Ethereum Has Room For Recovery
Ethereum’s Network Value to Transaction (NVT) Ratio is experiencing a decline, recently hitting a monthly low. A low NVT indicates that transaction activity is balanced with network value, reflecting reduced volatility. This creates an environment conducive to price recovery, something Ethereum urgently needs to regain its footing.
With the NVT ratio signaling healthy network activity, Ethereum is positioned to stabilize in the short term. Declining volatility often fosters investor confidence, making it more likely for the cryptocurrency to see renewed buying interest. As speculative activity wanes, Ethereum has an opportunity to chart a path toward meaningful recovery.
Ethereum’s realized profits recently dropped to a six-week low, pointing to a significant reduction in selling pressure from investors. This trend highlights the market’s shifting sentiment, with fewer participants looking to offload their holdings. Such conditions could provide Ethereum with the breathing room required to capitalize on broader bullish cues.
The lack of an uptick in realized profits suggests that the selling lull may persist, allowing Ethereum to focus on building upward momentum. With investors holding onto their coins, market conditions are primed for a gradual recovery, provided external factors remain favorable.
ETH Price Prediction: Breaking The Barrier
Ethereum is currently trading near $3,300, just below the critical resistance level of $3,327. Flipping this into support is essential for ETH to initiate a rally toward $3,524, representing a 6% increase from current levels. This move would mark a partial recovery from recent losses.
Breaking through the $3,524 resistance is crucial for Ethereum’s recovery. Achieving this would erase the recent downturn and also position the altcoin for further gains, potentially targeting $3,711. Such a move would underscore Ethereum’s resilience and align with the broader market’s bullish sentiment.
However, failing to establish $3,327 as a support level could stall Ethereum’s recovery. This scenario would leave the cryptocurrency vulnerable to a retracement toward $3,200, undermining recent progress and potentially delaying its path to $3,500.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Justin Sun, Vitalik Buterin Speak Amid Ethereum Reform Debate
TRON founder Justin Sun has offered a hypothetical plan for Ethereum and the Ethereum Foundation (EF) under his leadership. His remarks come amid controversy over EF’s leadership transformation.
In a series of posts on X (formerly Twitter), Ethereum co-founder Vitalik Buterin outlined the reforms’ goals and progress. He highlighted improvements in technical expertise, ecosystem engagement, and operational efficiency.
Justin Sun Outlines Blueprint for Ethereum Leadership
The TRON executive shared ambitious remarks on how he would lead the Ethereum Foundation if given the opportunity. Sun’s vision, shared on X, outlined a four-point plan to radically restructure EF operations, optimize Ethereum’s economic model, and drive the price of ETH to $10,000.
“If EF and Ethereum were under my leadership, ETH would hit $10,000,” Sun claimed.
Sun proposed an immediate halt to ETH sales for three years to stabilize supply and boost market confidence. He suggested covering EF’s operational costs through DeFi protocols like Aave, staking yields, and stablecoin borrowing, aligning with Ethereum’s deflationary goals.
A key component of his plan involves imposing significant taxes on Layer 2 (L2) solutions, aiming to generate $5 billion annually. The collected taxes would go toward exclusively repurchasing and burning ETH, further enhancing its scarcity and value.
Sun also called for a drastic downsizing of EF staff, retaining only top performers and offering them significant salary increases. This merit-based approach, he argued, would streamline operations and improve efficiency.
Finally, Sun emphasized adjusting node rewards and increasing fee burns to reinforce Ethereum’s deflationary narrative. He proposed redirecting all resources toward Ethereum’s core L1 development, focusing on scalability, security, and adoption. Justin Sun’s plan sparked a mixed response, with some applauding the bold vision.
“These are all very practical suggestions. Please pay attention to them and refer to them, Vitalik Buterin,” core developer 0xSea.eth posed.
Meanwhile, others challenged Sun to focus on TRON and explore bringing decentralized finance (DeFi) to its ecosystem.
“Maybe start with how to make DeFi great on TRON – you should ask your exec team (and yourself), “Why is DeFi nonexistent on TRON despite it being the chain with the most stable coins on it?” If you answer this, maybe TRON can beat eth one day,” ZIGChain co-founder Abdul Rafay Gadit remarked.
Vitalik Buterin Defends Leadership Amid Criticism
Sun’s proposed solution aligns with Vitalik Buterin’s recent post discussing ongoing changes over the past year, some of which have already been implemented. Buterin emphasized goals such as strengthening the EF’s technical leadership and improving collaboration with ecosystem participants. He also addressed concerns, rejecting the notion that the EF might adopt centralized or politically motivated roles.
“…these things aren’t what EF does and this isn’t going to change. People seeking a different vision are welcome to start their orgs,” Buterin articulated.
Aya Miyaguchi, an EF executive, confirmed the ongoing efforts, expressing excitement about forthcoming announcements. She noted that the reforms aim to solidify Ethereum’s position as a global neutral platform while embracing decentralized and privacy-preserving technologies.
The announcement has stirred controversy within the crypto community. Critics argue that the current leadership has failed to manage Ethereum effectively.
“Respectfully, just let new blood take over. You guys can’t even make a simple Twitter account work—how can you be trusted to lead the second biggest blockchain,” Wazz posed.
Another user, Coinmamba, suggested that pressuring Miyaguchi to resign could result in Ethereum reaching new all-time high. Buterin strongly condemned these comments, defending Miyaguchi and calling out the toxicity of such social media rhetoric.
“No. This is not how this game works,” Buterin retorted. “The person deciding the new EF leadership team is me. If you ‘keep the pressure on,’ then you are creating an environment that is actively toxic to top talent. YOU ARE MAKING MY JOB HARDER,” the Ethereum co-founder lamented.
Buterin also refuted specific claims against Miyaguchi, pointing out inaccuracies in translations and misinterpretations of her statements. He reiterated the need for a “proper board” within EF to enhance governance.
Ethereum’s ETH token was trading at $3,305 as of this writing, representing a modest 0.2% surge since Wednesday’s session opened.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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