FTM/USDT is showing strong bullish momentum with key support at $0.407 and $0.398. Breaking resistance at $0.4190 could lead to further upside. However, caution is needed as the RSI is approaching overbought territory. Use stops to manage risk effectively.
For Long Positions: If bullish sentiment continues, consider entering around the $0.407 to $0.411 range, targeting $0.419 and beyond. A potential breakout above $0.4190 could open opportunities for gains toward $0.43 or $0.44.
For Short Positions: If price struggles to break $0.4190, it could retrace to support at $0.407 or $0.398. A short position around $0.419 resistance with a tight stop could be considered.
Stop Loss: A good stop-loss for long positions would be slightly below $0.398 (EMA 25), as a break below this could indicate further downside.
Since it’s approaching overbought territory (RSI 64), consider scaling out of your long position incrementally as it nears RSI 70. This way, you can lock in profits if the price starts to show signs of reversal or consolidation. If the momentum continues strong, you can re-enter on a confirmed breakout above resistance ($0.4190), riding the trend further.
