A few days ago, I analyzed the **FTM/USDT** chart (see the first image) and pointed out a key opportunity that was building up. The price was hovering around the support zone, forming a descending triangle, with the 20 EMA providing dynamic resistance. It was clear that FTM was reaching a make-or-break point with a high likelihood of a breakout.
**Technical Setup:** - The price was consolidating around the **$0.425** support zone. - A strong resistance zone was noted around the **$0.50-$0.60** range. - The price was respecting the downtrend line, but I predicted that a breach of this resistance would lead to a significant upward move. - The **EMA 20** and **SMA 50** were starting to converge, signaling potential momentum build-up.
**And guess what? Our prediction played out perfectly!** 🙌
In the second image, you can see how FTM has now broken out of the downtrend resistance, hitting a high of **$0.5670**—a massive **10.50% increase** in a short time! This confirms the technical analysis that pointed to a strong breakout from the descending triangle pattern.
**What’s Next?** Now that FTM has broken out of its resistance zone, we could see further bullish momentum, with the next key level being around **$0.60-$0.65**. However, watch out for pullbacks to retest support around the $0.50 level, which would serve as a healthy consolidation before any further moves up.
**Key Takeaway:** This pump demonstrates the importance of understanding chart patterns and market structure. By identifying key resistance and support levels, we were able to anticipate this move and capitalize on it. Keep following these analyses to stay ahead of the market and maximize gains!
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Stay tuned for more signals, insights, and profitable trades. Let's keep winning together! 💪📊