$FTT /USDT - Technical Analysis & Trade Signal
Current Price: $3.3515
Trend: Bearish (Price is declining with lower highs and lower lows on intraday charts.)
Key Support Level: $3.30
Key Resistance Level: $3.65
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Technical Indicators:
1. RSI (Relative Strength Index): Below 40, indicating bearish momentum but approaching oversold territory.
2. MACD: Bearish crossover, showing continued selling pressure.
3. EMA (Exponential Moving Averages):
20 EMA: $3.43 (acting as immediate resistance).
50 EMA: $3.50 (longer resistance zone).
4. Volume: High selling volume in the last 24 hours, supporting the downtrend.
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Trade Setup:
Momentum: Bearish
Strategy: Short Sell below $3.30 or Buy on Reversal above $3.65 with confirmation.
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Trade Signal (Short Sell):
Entry Point: Below $3.30
Targets 🎯:
1. Target 1: $3.20
2. Target 2: $3.10
3. Target 3: $3.00
Stop Loss: $3.50 (above resistance to minimize risk).
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Trade Signal (Buy on Reversal):
Entry Point: Above $3.65 (on a breakout with high volume).
Targets 🎯:
1. Target 1: $3.80
2. Target 2: $4.00
3. Target 3: $4.20
Stop Loss: $3.50 (below support to protect capital).
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Key Insights:
Short-Term Trend: Bearish; suitable for short positions.
Reversal Potential: Watch for bullish divergence on RSI or volume breakout near $3.65.
Risk Management: Stick to stop loss levels and trade cautiously in volatile conditions.
Stay vigilant and monitor the market closely for any unexpected shifts!
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