$FTT
/USDT Technical Analysis and Trade Strategy 🚀🎯
1. Price Overview:
Current Price: $2.94 (+7.98% increase)
Price is trading near the upper Bollinger Band ($2.87), indicating potential resistance near $2.96 (24h High).
The price is above the middle Bollinger Band ($2.71), suggesting a bullish trend with support near $2.55 (lower Bollinger Band).
2. Indicators:
Bollinger Bands: The price is testing the upper band, showing a potential breakout if it exceeds $2.96. If the price drops, support at $2.71 (middle band) and $2.55 (lower band) can act as key levels.
Parabolic SAR: The SAR is at $2.7068, signaling an ongoing uptrend. If the price drops below this level, it could signal a reversal.
Volume: A relatively strong 24h volume with 7.99M FTT and 21.76M USDT, indicating active market participation, especially in the buy-side.
3. Key Resistance and Support:
Resistance: $2.96 (24h High) and potentially $3.00 (psychological resistance).
Support: $2.71 (Middle Bollinger Band) and $2.55 (Lower Bollinger Band).
---
Trade Strategy:
Scenario 1: Bullish Breakout (Target Strategy)
Entry: Buy FTT/USDT above $2.96 (if price breaks through resistance with strong volume confirmation).
Target 1 🎯: $3.10 (next key resistance level based on prior highs and psychological resistance).
Target 2 🎯: $3.20 (further upside potential with continuation of bullish trend).
Target 3 🎯: $3.30 (next resistance level, considering a larger price movement).
Stop Loss: $2.71 (Middle Bollinger Band or SAR level), indicating a shift to bearish trend if broken.
Scenario 2: Consolidation or Pullback (Support Level Strategy)
Entry: Buy near $2.55 (Lower Bollinger Band) or $2.71 (Middle Bollinger Band), anticipating a reversal.
Target 1 🎯: $2.85 (mid-range between support and upper Bollinger Band).
Target 2 🎯: $2.96 (24h High), where the price may face resistance again.
Target 3 🎯: $3.00 (psychological resistance level).
Stop Loss: $2.50 (below the Lower Bollinger Band), in case the downtrend continues.