🔵 FTM/USDT 🔵

✔️ Affected by the decline we experienced in crypto markets and especially in Altcoins last month, $FTM has created a range structure between the $0.66 main support and $0.77 main resistance for about a month and has not been able to get out of these areas yet, except for a few deviation structures.

✔️ When we examine the FTM chart in the 4-hour period; We see that the price is currently still within the narrow range structure I mentioned, but with the rise it has made in the last hours, it has broken the falling trend line resistance that has been going on since March 25 with aggressive candles. If the price wants to target even higher from here - and it seems like it will - our first main resistance will be $0.77, which is the RH (Range High) region of the narrow range structure, and our second main resistance will be $0.85.

✔️ Even though FTM shows a bullish structure at the moment and I believe that FTM will rise further, a daily close above the falling trend line resistance or a retest of this trend will give bullish confirmation for us. That's why I think it would be wrong to blindly enter into the process for those who have not yet entered the process. If the conditions I mentioned are realized and other confirmation mechanisms in the crypto markets (BTC.D, USDT.D, TOTAL charts, etc.) do not take actions that will give the market a bearish structure in the short term, I believe that with this rise of FTM, it will now exceed the $0.77 levels and enter the upper main resistance areas and I think there will be an intermediate rise targeting the short liquidations that have been accumulated for a long time.

❗️ What I write here is my own opinion and is not investment advice. #DYOR