$FTT Potential Scenarios
Bullish Scenario:
Resistance Level Breakout: The price is currently at $2.75, with a 24-hour high of $3.05. If the price surpasses this resistance level, it could trigger further buying momentum, pushing the price towards $3.50 or higher.
Bearish Scenario:
Retracement to Support: If the price fails to break above $3.05, it might retrace to its nearest support level at $2.39 or even lower at $2.04, as indicated by the moving averages.
Overbought Conditions: A rapid price increase may lead to profit-taking, causing a short-term pullback.
Consolidation Scenario:
Sideways Movement: If neither buyers nor sellers take control, the price could consolidate between $2.50 and $3.05, forming a stable range before the next significant move.
Conclusion:
Traders should watch the $3.05 resistance and $2.39 support levels.
A breakout above $3.05 could signal further bullish momentum, while a drop below $2.39 might indicate a bearish trend.
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