Fantom (FTM) Breakout Imminent? On-Chain Metrics Support Rally Odds

Fantom's symmetrical triangle pattern and bullish on-chain metrics hint at a potential breakout above $0.93 resistance.

Key Statistics:

- Price: $0.7459 (-5.26%).
- Resistance: $0.93.
- Potential target: $1.20.
- Net network growth: 0.24%.
- In the money addresses: 6.52%.
- Large transactions: +4.12%.
- Concentration among large holders: 0.05%.

Technical Analysis:

- Symmetrical triangle pattern.
- Price volume trend (PVT) shows steady growth.
- Bullish momentum if breakout above $0.93.

On-Chain Metrics:

- Mostly bullish sentiment.
- Steady influx of new users.
- Reduced sell pressure from profitable holders.
- Institutional interest.

Cautionary Signals:

- Price-DAA divergence (-61.25%).
- Decline in Open Interest (-2.79%).

Outlook:

- Confirmed breakout above $0.93 crucial.
- Sustained rally dependent on volume spike.
- Caution due to low daily active address growth.

To Confirm Breakout:

1. Decisive break above $0.93.
2. Sustai…