$FTM $FTM

$FTM /USDT Analysis

Current Price: $0.6397 (+12.94%)

24h High: $0.6699

24h Low: $0.5645

Key Moving Averages:

MA(7): $0.6086

MA(25): $0.5948

MA(99): $0.6612

Technical Overview

FTM has shown strong upward momentum, currently trading above the short-term (7-day) and mid-term (25-day) moving averages. However, it is slightly below the longer-term (99-day) moving average, which could act as a resistance level.

Support & Resistance Levels

Immediate Support: $0.6086 (7-day MA)

Primary Resistance: $0.6612 (99-day MA)

Secondary Resistance: $0.6699 (24h high)

Suggested Trade Setup

Entry Zone: $0.6250 - $0.6400 (between the 7-day MA and current price)

Targets:

First Target: $0.6612

Second Target: $0.6699 (if momentum remains strong)

Stop-Loss: $0.5900 (slightly below the 25-day MA to account for fluctuations)

Summary

FTM/USDT is showing bullish momentum, and a breakout above the 99-day MA at $0.6612 could lead to further gains. However, if it fails to sustain above this level, consider taking partial profits. Watch trading volumes closely for confirmation at resistance points.#NovemberMarketAnalysis #USElections2024Countdown #ETHBTCNewLow #ElectionNightBTCGuess #Write2Earn!