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LIVEThe Crypto Anatomy
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$FTM POISED FOR A BIG BREAKOUT 📈
🔔
With the formation of an Inverted Head & Shoulders pattern just on the verge, it is definitely going to make some moves eyeing that $1 level.
📊 Not only the daily charts, but the weekly chart is confirming a possible rebound with that inverted H&S pattern forming there as well. The RSI is hovering near the avg mark which shows enough room for some healthy upside moves.
The descending trendline has been the line of resistance where the price has seen multiple rejections. A breakout above this will retest the next hurdle at $0.55 and complete the inverted H&S pattern. From here the next resistance lies at $0.75 and breaking above this may lead the price towards that $1 mark.
But the resistance turned support will go through a test here. So this could be a cool off zone before heading towards a $.
🎯 Moreover the two shoulders have formed just at the support level of $0.35 which shows the strength at this crucial pivot level. Also this is the immediate support as of now.
The last week has been a rebound from that support level and this week has started off on a positive note with the price more than 8% up for the day. At the time of writing FTM was changing hands near $0.44.
#FTM
🔔
With the formation of an Inverted Head & Shoulders pattern just on the verge, it is definitely going to make some moves eyeing that $1 level.
📊 Not only the daily charts, but the weekly chart is confirming a possible rebound with that inverted H&S pattern forming there as well. The RSI is hovering near the avg mark which shows enough room for some healthy upside moves.
The descending trendline has been the line of resistance where the price has seen multiple rejections. A breakout above this will retest the next hurdle at $0.55 and complete the inverted H&S pattern. From here the next resistance lies at $0.75 and breaking above this may lead the price towards that $1 mark.
But the resistance turned support will go through a test here. So this could be a cool off zone before heading towards a $.
🎯 Moreover the two shoulders have formed just at the support level of $0.35 which shows the strength at this crucial pivot level. Also this is the immediate support as of now.
The last week has been a rebound from that support level and this week has started off on a positive note with the price more than 8% up for the day. At the time of writing FTM was changing hands near $0.44.
#FTM
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FTM
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