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FTT/USDT Analysis - 4-Hour Chart Update
📊 Current Price: $2.9760 (-0.23%)
📈 Recent High: $3.34 | 24H Low: $2.5356
Exchange: Binance
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Technical Overview:
The FTT/USDT pair is currently consolidating within a descending triangle formation, which typically suggests a continuation or breakout scenario. Here’s what’s happening on the chart:
1. Triangle Pattern Formation:
The upper trendline is showing a series of lower highs.
The lower trendline is holding steady, creating a support zone near the $2.75 region.
2. Volume Observation:
24H volume remains relatively high at 79.36M USDT, showing active participation.
Decreasing volume on each bounce hints at an indecision phase and a potential breakout.
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Potential Scenarios to Watch:
1️⃣ Bullish Breakout:
If buyers regain strength and the price breaks above the descending trendline (~$3.10-$3.20 zone), we could see an upward surge toward the $3.50-$4.00 resistance levels.
2️⃣ Bearish Breakdown:
If sellers push the price below the key support (~$2.75), the next downside target could be around $2.50 or lower.
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Key Levels to Watch:
Resistance: $3.10 / $3.35 / $4.00
Support: $2.75 / $2.50
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⚠️ Important Note:
Keep an eye on volume and price action near these key levels. A confirmed breakout or breakdown will likely dictate the next major move. Stay cautious and plan accordingly.
What are your thoughts on FTT? Is a breakout incoming, or will the bears take control?
Let me know in the comments! 🔥
#FTT #CryptoTrading #Binance #TechnicalAnalysis
