💲📈 Hours after my quoted analysis, $FTM is up 10% from its current levels when I shared its chart and is currently testing $0.90, a level that could act as resistance. I think that if the price manages to exceed this level, it will continue its rise targeting the short liquidations I showed in the chart.
Post
--Bullish
Valanre
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Bullish 🔵FTM/USDT🔵
✔️ $FTM , which created a local peak by moving its price from $0.40 to $1.23 with its impressive rise last month, has been in a correction process and falling trend like the general crypto markets for a while. When we examine FTM on a 4-hour time frame, we observe that the price has found support for now at $0.80 levels, which have served as support in the past, and is testing the falling trend line resistance of the descending wedge formation, which is a bullish structure formed by the price as it falls.
✔️ When we examine the RSI indicator, we can say that the current value is at a level that has served as resistance in the past, and if this level is gained on the RSI side, the trend line of the descending wedge formation, which serves as resistance, will be broken with the next price rise and FTM will now evolve into a bullish structure.
✔️ Another graph we need to examine is liquidation levels; When we examine the liquidation levels of FTM on the weekly chart, we cannot say that there is a lot of short liquidation in the lower regions, except for the $0.69 level we see when we examine the liquidation levels on the monthly chart, especially in the $0.90, $0.96 and $1.02 regions.
✔️ In light of this data, I believe that FTM will evolve into a bullish structure in the coming days and will also make a targeted rise in short liquidations that can act as resistance. However, the course of BTC and #TOTAL charts will be important to us when shaping our investments, as we do for every #Altcoin . In order to predict the price movements of FTM in the coming days, especially the #TOTAL3 chart will be our guide, so we should always remember that we need to manage risk and invest gradually!
❗️ What I write here is my own opinion and is not investment advice #dyor
✔️ $FTM , which created a local peak by moving its price from $0.40 to $1.23 with its impressive rise last month, has been in a correction process and falling trend like the general crypto markets for a while. When we examine FTM on a 4-hour time frame, we observe that the price has found support for now at $0.80 levels, which have served as support in the past, and is testing the falling trend line resistance of the descending wedge formation, which is a bullish structure formed by the price as it falls.
✔️ When we examine the RSI indicator, we can say that the current value is at a level that has served as resistance in the past, and if this level is gained on the RSI side, the trend line of the descending wedge formation, which serves as resistance, will be broken with the next price rise and FTM will now evolve into a bullish structure.
✔️ Another graph we need to examine is liquidation levels; When we examine the liquidation levels of FTM on the weekly chart, we cannot say that there is a lot of short liquidation in the lower regions, except for the $0.69 level we see when we examine the liquidation levels on the monthly chart, especially in the $0.90, $0.96 and $1.02 regions.
✔️ In light of this data, I believe that FTM will evolve into a bullish structure in the coming days and will also make a targeted rise in short liquidations that can act as resistance. However, the course of BTC and #TOTAL charts will be important to us when shaping our investments, as we do for every #Altcoin . In order to predict the price movements of FTM in the coming days, especially the #TOTAL3 chart will be our guide, so we should always remember that we need to manage risk and invest gradually!
❗️ What I write here is my own opinion and is not investment advice #dyor
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.