$FTM Breaks Higher with 3.72% Surge: Testing Critical Levels!
FTM is trading at $0.7031, up 3.72%, as it bounces off key support levels and eyes a potential breakout. Here’s the latest technical breakdown:
1. Moving Averages (MA)
• The 7-hour MA (yellow line) at $0.7054 is acting as immediate resistance, with FTM attempting to break through.
• The 25-hour MA (pink line) at $0.6947 is now providing solid support, while the 99-hour MA (purple line) at $0.7246 is the next major resistance level to overcome.
2. Volume Insights
• Volume surged as FTM recovered from its 24-hour low of $0.6601, showing strong buying activity. Sustained volume will be key to breaking through the 99-hour MA.
3. Key Levels to Watch
• Resistance: The 99-hour MA at $0.7246 and the 24-hour high of $0.7283. Breaking these levels could open the door to further bullish momentum.
• Support: Immediate support lies at $0.6947 (25-hour MA). If this fails, the next critical support level is $0.6600.
4. Trend Analysis
• FTM is in recovery mode, with the price holding above the 25-hour MA. A successful breakout above the 99-hour MA would confirm a short-term bullish reversal.
Trading Strategy
• For Bulls: Look for a breakout above $0.7246 with high volume to target higher levels. Use $0.6947 as a trailing stop to protect gains.
• For Bears: Wait for a rejection at $0.7246 or a break below $0.6947 to target $0.6600 for potential downside.
FTM is showing promising signs of strength—watch these levels closely for the next big move! 🚀
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