The current technical analysis of the $FTM
/USDT pair shows a slight downtrend, with the price at $0.6171, reflecting a 0.50% decrease over the last 24 hours. The recent high of $0.6472 and low of $0.6134 indicate a relatively tight trading range, suggesting that market participants are cautious. đ
Looking at the 15-minute chart, we can see a series of lower highs and lower lows, which may signal bearish sentiment in the short term. The support level around $0.6134 is crucial; if this level holds, it could provide a base for a potential rebound. Conversely, breaking below this support might lead to further declines. đ
Volume analysis shows a trading volume of 56.64M FTM in the last 24 hours, which supports the current price action. If volume increases while the price approaches the support level, it could indicate accumulation, suggesting a possible reversal. đ
Traders should keep an eye on key indicators such as RSI and MACD to gauge momentum. If these indicators show signs of bullish divergence, it could strengthen the case for a bounce back. Overall, a cautious approach is advised as the market navigates this consolidation phase. đ
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