🚨🚀 Massive Sell-Off in FTM! Time to Buy the Dip? 🚀 🚨

The current market structure for Fantom (FTM) shows significant bearish momentum. Here's a detailed breakdown of the key points from the chart:

Price Overview:

Previous support levels broken, indicating strong selling pressure.

Volume Profile:

Point of Control (POC): Near $0.7000, indicating the highest traded volume area.

mVAH (Monthly Value Area High): $0.7857

pmVAL (Previous Month's Value Area Low): $0.6292

Key Support and Resistance Levels:

Immediate Resistance: $0.4972 (current resistance)

Critical Support: $0.4609 (current price level)

Major Resistance: $0.6824 (Mid point)

RSI Analysis:

Current RSI: 21.34, indicating oversold conditions.

50.94: Upper boundary suggesting potential reversal if broken upwards.

37.57: Recent resistance level for RSI.

35.36: Recent support level for RSI, currently broken.

Trend Analysis:

The price is trending downwards sharply, breaking multiple support levels.

RSI is in the oversold territory, suggesting a potential for a short-term rebound.

Market Sentiment:

Bearish trend dominates with significant sell-offs.

Potential for consolidation if RSI levels start to recover.

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