$FTM /USDT Analysis

Current Market Outlook:

The $FTM /USDT pair is currently in a downtrend, having broken below a key support level. The price action suggests a bearish momentum with potential for further downside.

Trade Ideas:

Short Trade:

* Entry: Sell on a pullback to the recent resistance level (around $1.0500)

* Target: The next support level (around $0.8500)

* Stop Loss: Above the recent high (around $1.1500)

Long Trade:

* Avoid long positions at the moment due to the strong downtrend.

Market Sentiment:

The overall market sentiment for FTM/USDT is bearish. The recent breakout below the support level and strong volume confirm the bearish momentum.

Leverage:

Leverage can amplify both profits and losses. Use leverage cautiously and manage risk effectively.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please conduct your own research or consult with a financial advisor before making any investment decisions.

Additional Considerations:

* Keep an eye on broader market trends and news events that may impact FTM/USDT.

* Use stop-loss orders to limit potential losses.

* Consider using take-profit orders to secure profits.

Conclusion:

The FTM/USDT pair is currently in a strong downtrend. Short trades are favored based on the current price action and chart pattern. However, a break above the recent resistance level could invalidate the bearish outlook.

#FTMUSDT #cryptotrading #technicalanalysis #cryptoanalysis #tradingview