$FTM /USDT - Technical Analysis
Overview:
FTM/USDT has shown a strong upward momentum, gaining approximately +10.94% in the last 24 hours. The price recently broke key resistance levels, indicating bullish momentum. The RSI at 76.72 suggests that the market is in the overbought zone, signaling potential exhaustion but also strong buyer dominance.
Current Price: $1.0634
Key Levels:
Resistance (Red): $1.0930 (24-hour high), $1.1157 (next potential breakout level)
Support (Green): $0.9497, $0.7838
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Trade Signals
Long Trade Setup:
Entry: Above $1.0634 (current level) on strong volume
Take-Profit Targets:
Target 1: $1.0930
Target 2: $1.1157
Target 3: $1.1500
Stop Loss: Below $0.9500 (critical support)
Short Trade Setup:
Entry: Below $0.9500 if price shows signs of reversal
Take-Profit Targets:
Target 1: $0.9200
Target 2: $0.8800
Target 3: $0.7838 (major support level)
Stop Loss: Above $1.0650 (recent highs)
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Indicators to Watch:
RSI (6): Monitor for divergence or overbought signals.
Volume: Confirm price movement with above-average volume.
Breakout Signal: A break above $1.0930 may trigger rapid gains toward $1.1157 and beyond.
Cautionary Note: Traders should watch for stability around the current resistance at $1.0930. If the price fails to break above this level and volume declines, it may signal a consolidation or short-term pullback.
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