$FTM /USDT Analysis Testing Crucial Levels After a Sharp Drop #FTM is currently trading at $0.6614, down 9.78% in the last 24 hours. The price hit a low of $0.6179 before attempting a recovery. The RSI at 28 indicates oversold conditions, suggesting a possible bounce but caution is advised as bearish momentum remains dominant.
Key Support Levels
$0.6500: Immediate support, critical for halting further declines.
$0.6170: A major support zone; breaking below could lead to deeper losses.
Key Resistance Levels
$0.6800: Immediate resistance to watch for recovery attempts.
$0.7000: A significant level that could signal a bullish reversal if breached.
Trading Setup
For Bulls:
Entry: Around $0.6500 on pullbacks, with a stop-loss at $0.6400.
Targets: $0.6800 and $0.7000.
For Bears:
Entry: Below $0.6500, targeting $0.6170, with a stop-loss at $0.6700.
Market Insights
#FTM remains under pressure following the sharp decline, but oversold RSI levels hint at a potential relief rally. A breakout above $0.6800 could attract buyers, while failure to hold $0.6500 might trigger further downside. Monitoring volume and momentum is crucial for short-term strategies.