FTM/USDT Eyes Bullish Continuation: Key Resistance Levels in Focus
$FTM

200-period MA:
The current price is trading above the 200-period MA, suggesting a potential mid-term bullish reversal. This indicates that there is renewed buying interest, particularly if the price holds above this moving average. As long as the price remains above the 200-period MA, it may act as strong support and encourage further upward movement.

RSI (Relative Strength Index):
The RSI is currently at 60.33, indicating increasing buying momentum. While this level suggests strength, it also implies that the asset is nearing overbought conditions as the RSI approaches 70. Traders should monitor for a potential pullback if the RSI starts to peak into overbought territory.

MACD (Moving Average Convergence Divergence):
The MACD indicator is showing bullish momentum, with the MACD line crossing above the signal line and a growing positive histogram. This indicates that buying momentum is increasing, and it could help sustain the current upward move if the trend continues.

Bullish Scenario:

If FTM/USDT can maintain its position above the 200-period MA and break through the resistance at $0.70 - $0.75, it may see extended gains, with potential targets reaching up to $0.80 - $0.90.

Bearish Scenario:

Failure to break above the $0.70 - $0.75 resistance level could result in a retracement back towards the support near $0.58 (200-period MA) or even further down to $0.50 if selling pressure intensifies.

Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. All investment decisions should be made at your discretion.

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