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FTM/USDT Technical Analysis: Bullish Breakout in Progress

FTM/USDT is showing strong bullish momentum, currently trading at $0.7920 with a 15.54% increase in the past 24 hours. The pair rallied from a low of $0.6634, breaking multiple resistance levels and reaching a high of $0.7975. This sharp upward move is supported by heavy trading volume, indicating strong interest from buyers.

Key Levels to Watch:

Resistance:

$0.8000 – A critical psychological level. A break above this level could lead to further gains towards higher targets.

Support:

$0.7550 – The nearest support level. In case of a pullback, this area will act as the first line of defense.

$0.7200 – Strong secondary support to watch for any deeper corrections.

Trade Setup:

Entry: Around $0.7900

Targets:

Target 1: $0.8200

Target 2: $0.8500

Stop Loss: $0.7400

Market Insights:

The breakout is supported by high volume, suggesting that buyers are firmly in control. If FTM maintains its momentum and breaks the $0.8000 resistance level, it could target $0.8200 and $0.8500. However, failure to hold above 0.$7550 could lead to a short term consolidation phase.