#ftm/usdt Trade Analysis: First Target Profit Hit $FTM

#ftm/usdt  Trade Analysis: First Target Profit Hit $FTM 

The price action has validated the previous forecast. On July 16th, FTM successfully reached the first target profit of $0.518. To secure the position and mitigate risk, the stop loss has been moved to the entry point of $0.45. The current price is consolidating around $0.5034, below the second target profit of $0.5719, indicating that the trade remains active with the potential for further gains. 
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$FTM

The 4-hour chart for Fantom (FTM) illustrates significant potential for a bullish reversal. Currently priced around $0.45, FTM is positioned near the lower Bollinger Bands, suggesting possible oversold conditions. The MACD has recently shown a bullish crossover, indicating increasing buying momentum, complemented by an RSI hovering around 40, near oversold levels, signaling potential for upward movement. Increasing volume adds weight to this bullish sentiment, despite FTM trading below the VWAP, indicating potential undervaluation. However, it's crucial to note that FTM remains below the 200-day SMA, confirming a bearish long-term trend. The price action reveals robust support at $0.42 and resistance at $0.48, with a double bottom pattern forming—a typical bullish reversal indicator

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#ftm/usdt Trade Analysis: First Target Profit Hit

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