$FTM /USDT Technical Analysis & Trade Signal

Current Price: $0.6845

24h Price Change: -10.24%

24h Range: $0.6817 - $0.7636

Technical Indicators:

RSI (14): The Relative Strength Index is currently in the oversold zone, indicating potential for a price rebound if momentum shifts.

MACD: The MACD is showing a bearish crossover, suggesting the possibility of further downside, but the histogram is narrowing, which could indicate a potential reversal soon.

Support Levels:

Support 1: $0.6817

Support 2: $0.6700

Support 3: $0.6500

Resistance Levels:

Resistance 1: $0.7400

Resistance 2: $0.7500

Resistance 3: $0.7636 (24h High)

Trade Signal:

Buy Zone: Entering at or near $0.6817 (Support 1) could provide a favorable entry point, especially if the price shows signs of bouncing off this level.

Sell Zone: Consider taking profits at $0.7400, $0.7500, and $0.7636.

Stop-Loss: Place a stop-loss just below $0.6700 to manage risk.

Momentum:

Bearish Momentum: Currently, FTM/USDT is experiencing negative momentum with the price down by more than 10% in the last 24 hours. The market is showing signs of short-term weakness, but oversold conditions on the RSI and narrowing MACD histogram suggest that a potential rebound could occur.

Target Levels (🎯):

1. First Target: $0.7400

2. Second Target: $0.7500

3. Third Target: $0.7636 (24h High)

Trade Strategy:

Long Position: Buy near $0.6817, aiming for the targets at $0.7400, $0.7500, and $0.7636.

Short Position: Avoid shorting at this stage as the market could soon reverse due to oversold conditions.

Monitor for any bullish signals or patterns such as bullish candlestick formations or a positive MACD crossover for confirmation of a reversal.

#BinanceAlphaAlert #SolvProtocolMegadrop #MicroStrategyStockSale #DEXVolumeRecord #BTCBelow92K