Fantom (FTM) price has risen in the last 24 hours, outperforming a declining market. Its ADX has surged to 47, signaling strong trend momentum, and historical data suggests it could rise even further.

The EMA lines also remain bullish, with FTM well-positioned for a continued uptrend toward $1.22. However, if the trend reverses, FTM could test key supports at $0.77 or even $0.35 in a deeper correction.

Fantom Current Trend Is Strong But Can Rise Even More

Fantom ADX has surged to 47 from just 12 in the past four days, signaling a significant increase in trend strength. The ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, on a scale from 0 to 100.

Values above 25 indicate a strong trend, with levels exceeding 40, highlighting very strong momentum. This sharp rise in ADX reflects the robustness of FTM’s current uptrend, which is supported by increasing buying pressure.

Although an ADX of 47 already signifies a strong trend, historical data suggests FTM’s ADX can exceed 50 during periods of intense momentum.

If the ADX continues to climb, it will signal even stronger bullish momentum, potentially pushing the Fantom price higher.

Whales Stopped Accumulating FTM

FTM whales appear to be slowing their accumulation after a surge in activity earlier this month. The number of wallets holding between 1,000,000 and 10,000,000 FTM grew from 69 on November 15 to 74 by November 21, indicating increased confidence among large holders during that period.

Tracking whale activity is critical, as these large investors can significantly influence market trends through their buying and selling behavior.

Since November 21, however, the number of these wallets has stabilized, fluctuating between 72 and 74. This suggests that while whales have maintained their holdings, they are no longer aggressively accumulating.

This stability could indicate a pause in Fantom’s bullish momentum, with whales waiting for clearer market signals before making further moves. For FTM, this could result in reduced volatility unless new catalysts emerge to reignite accumulation.

Fantom Price Prediction: Can It Reach $1.22?

Fantom EMA lines remain bullish, with the short-term lines positioned above the long-term ones and the price trading above all of them.

This alignment indicates strong upward momentum, supported by consistent buying pressure. If the current uptrend continues to strengthen, FTM price could gain an additional 20% and test $1.22, marking its highest price since March.

However, if the uptrend reverses, FTM price could face a series of critical support levels.

Initial supports lie at $0.77 and $0.58, but if these fail, the price could drop to $0.35, representing a significant 66% correction.

Ethereum (ETH) derivatives traders have reacted to the altcoin’s failure to sustain the $3,500 level by increasing their short positions. This surge in bearish bets suggests that a majority of traders anticipate further price declines for ETH.

However, do other metrics align with this sentiment? This on-chain analysis explores whether these traders might be making the right call — or if the data hints at a potential rebound.

Ethereum Shorts Outpace Longs Amid Profit-Taking

As of this writing, the liquidation map reveals that Ethereum derivatives traders have opened short positions totaling $918 million since the cryptocurrency’s price drop yesterday. 

In trading, going long or short represents a trader’s expectation of price movement. Opening a long position suggests the trader believes the price will rise. Going short, on the other hand, indicates that they expect a decline.

Currently, ETH long positions are valued at approximately $218 million, highlighting that shorts have significantly outpaced bullish exposure by $700 million. However, it is important to note that if Ethereum’s price rallies toward $3,700, most of these positions with high leverage might face liquidation.

However, data from Glassnode suggests that these traders may not face liquidation unless a significant rebound occurs. This is primarily due to the rise in realized profits, which indicates that traders have locked in gains by selling or transferring assets at a higher price.

As of press time, Ethereum’s realized profits had surged to $659.22 million, suggesting that most shorts have capitalized on the price movement and may be less vulnerable to liquidation in the short term.

ETH Price Prediction: Bearish

Since November 16, ETH’s price has been trading within an ascending channel. An ascending channel is a chart pattern formed by two upward trend lines, one drawn above the price (resistance) and the other below (support). 

This pattern indicates that the price is moving higher within a defined range. The support line shows where the price tends to bounce higher, and the resistance line marks where the price faces selling pressure.

As seen below, ETH, at $3,314, has dropped below the support line. If selling pressure intensifies, the cryptocurrency’s value is likely to sink to $3,033. 

However, Ethereum derivatives traders need to watch out. Should the altcoin fail to drop below $3,220, this might not happen. Instead, the value could rise to $3,547 and possibly climb to $4,000.

Uniswap, the largest decentralized exchange (DEX), has announced a $15.5 million bug bounty for vulnerabilities in its v4 upgrade. This sets a new record for the highest bug bounty ever offered, surpassing LayerZero’s $15 million reward.

However, this bounty includes several caveats, and Uniswap will only offer a full payout to a “critical” vulnerability that doesn’t include third-party contracts or applications.

Uniswap v4’s Bug Bounty

Uniswap recently offered a substantial bounty for identifying code vulnerabilities. Specifically, the firm is looking for weaknesses in its massive v4 upgrade’s core capabilities. Uniswap also released a blog post with further details about the program:

“Today, we’re excited to launch a $15.5 million bug bounty, the largest in history, for vulnerabilities found in Uniswap v4 core contracts. Uniswap v4 is already among the most thoroughly reviewed codebases in DeFi, with nine independent audits. As deployment approaches, we’re taking an extra step to ensure v4 is as secure as possible,” the post read.

Strictly speaking, Uniswap’s claim to being the largest-ever “bug bounty” is somewhat ambiguous. In the past, certain platforms have offered large bounties to successful hackers, incentivizing them to return stolen funds. Last year, Mixin Network called their $20 million enticement to hackers a “bug bounty,” but the company slightly misused the term.

In this case, Uniswap only offers payments for identifying a weakness, not a ransom for actually exploiting it. In this genre, Uniswap’s $15.5 million offer is indeed massive: earlier this year, Solana offered only $1 million for a similar program. In other words, the company might view continued v4 security as integral to Uniswap’s continued success.

Alternatively, this substantial offer could come from a place of confidence. As mentioned, Uniswap carried out nine separate independent code audits and conducted a further $2.35 million security competition. Fortune claims that Uniswap chose $15.5 million to one-up LayerZero, which offered a $15 million bounty last year. This high reward, then, could just be a boast.

In any event, this massive reward comes with important caveats. First of all, a hacker cannot claim a vulnerability from any third-party contract or application, even those deployed by Uniswap Labs. Second, it can’t list any unfixed issues that previous audits identified. Finally, only a “critical” bug gets the full payment, with lower risks getting between $1 million and $100,000.