technical analysis for $FTT /USDT:
Current Price: $3.3086
24h High: $3.6180
24h Low: $3.2834
Volume: 6.24M FTT, 21.41M USDT
Market Sentiment: Bearish (down by 8.30%)
Key Levels:
1. Support Level 1 (S1): $3.2834 (24h Low)
A strong support zone that has already been tested, where buying pressure may appear if the price reaches this level.
2. Support Level 2 (S2): $3.2
A minor support level where price could consolidate or bounce back if there's no significant bearish momentum.
3. Resistance Level 1 (R1): $3.5
Price faces resistance at this level. If broken, it could indicate a potential uptrend.
Trade Targets (Three Target Levels 🎯):
1. Target 1: $3.45
A reasonable short-term target based on the current price action, especially if the price breaks the $3.5 resistance level.
2. Target 2: $3.55
This target is based on a retracement or a continuation if the momentum shifts bullish.
3. Target 3: $3.65
A higher target in the event of a sustained bullish move.
Trade Signal:
Buy: At current price levels ($3.3086), with confirmation at the $3.2834 support level.
Stop-Loss: Place below $3.2 for risk management.
Take Profit: Consider partial exits at $3.45, $3.55, and $3.65 for optimal risk-reward.
Momentum Indicators:
RSI: Currently neutral but leaning toward oversold, suggesting possible reversal or consolidation near the support zone.
MACD: The MACD shows slight bearish momentum but could turn bullish if the price breaks above $3.4.
Overall Outlook:
Bearish pressure in the short term with possible bounce at support levels.
Monitoring for a break above $3.5 for a potential reversal to bullish momentum.
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