technical analysis for $FTT /USDT along with three target levels and trade momentum:
Current Price: $3.23
24h Price Change: +21.21%
Support & Resistance Levels:
Support Level 1: $2.64 (24h Low)
Support Level 2: $2.85 (Previous Support Zone)
Resistance Level 1: $3.60 (24h High)
Resistance Level 2: $3.75 (Potential Breakout Level)
Key Indicators:
Relative Strength Index (RSI): Currently showing around 70, indicating that FTT/USDT may be in an overbought condition. A minor pullback or consolidation might be expected before further upside.
Moving Average Convergence Divergence (MACD): The MACD is showing positive momentum, confirming that there’s still buying strength.
Moving Averages (50/200 MA): The 50-period MA is above the 200-period MA, indicating an ongoing bullish trend.
Price Action:
The price has recently broken above a resistance at $3.00, confirming a bullish trend.
Currently trading above the 50-period moving average, indicating the trend is in favor of buyers
Trade Signals:
Buy Signal:
Entry: Buy above $3.25, once the price confirms a small retracement above the $3.20 level.
Stop Loss: Place stop loss below $2.85 to mitigate risk in case of a sharp reversal.
Target 1: $3.50 (Intermediate Resistance)
Target 2: $3.60 (24h High Resistance)
Target 3: $3.75 (Breakout Level)
Sell Signal:
Entry: If price fails to break above $3.60 and starts consolidating or shows signs of rejection.
Stop Loss: Place stop loss above $3.75.
Target 1: $3.00 (Support Zone)
Target 2: $2.85 (Lower Support Level)
Target 3: $2.64 (24h Low)
Momentum:
The market momentum is bullish due to:
A strong price rally above $3.00.
Positive MACD crossover indicating continued upward movement.
A high RSI suggesting a need for caution, but not yet an immediate sign of reversal.