The phantom price has seen a relatively quicker recovery compared to other altcoins. According to crypto analyst Aaryamann Shrivastava, FTM investors are facing a $0.43 demand wall that will make 1.08 billion FTM profitable again. The analyst says this will rekindle investor interest. In addition, the analyst states that this lack of interest drove nearly 9,000 investors away last week.
Altcoins price increaseof bring investors backpossible
cryptocoin.comAs you follow, the price of Phantom increased by 15% in a week. However, investors are still waiting for a rise to May highs. Altcoin price has been moving in the green on the charts for the past few days. It is also currently ahead of most cryptocurrencies in the market in terms of recovery. Even then, FTM holders maintain a heavily bearish outlook to the point where they decide to exit the market.
Phantom is currently trading at $0.27. The altcoin price is now up 15% from its five-month low of $0.23. Thus, it points to a relatively quicker recovery compared to most other digital assets. But while FTM is performing well in these bearish conditions, investors are not patient enough to see it.
What are the signs for ascension?
In the last few days, nearly 9,000 investors have exited the market. Also, the total addresses holding FTM have dropped from currently 105k to 96k. This means a decrease of almost 9%. These FTM holders potentially reacted to the recent crash as their goals strayed from reality.
Most traders are eager for the Phantom price to return to $0.43. This is the average price at which approximately 1.08 billion FTMs were purchased by 10,000 addresses. This $291 million supply will become profitable if the altcoin rises more than 50% on the charts. However, this is far from happening for now.
Although another wall of demand crosses $0.32, that would make 425 million FTM worth $114 million once again profitable. To achieve this, the altcoin price only needs to retrace the June crash. It’s already very close to doing that.
A breach of $0.32 will bring back investor interest. It will also restore trust, which may be enough to trigger the return of 9k addresses. Moreover, it will push the price further, pushing the altcoin to $0.43.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.