$FTM Here’s a detailed analysis of $FTM Fantom based on the provided liquidation data and general market patterns.
Current Overview.
A long liquidation of $1.5445K occurred at the price of $0.8019, indicating significant selling pressure at this level.
The price might have faced resistance around this point or a failure of buyers to sustain momentum.
Such liquidations often create an opportunity for bounce back trades or further downward movement depending on market sentiment.
Next Move Prediction.
1. Support and Buy Zone.
Primary Buy Zone.
$0.7700 - $0.8000
This range is expected to act as strong support if the price dips further, as traders might consider accumulating here.
2. Targets.
Target 1: $0.8500
Target 2: $0.8800
Target 3 High Risk. $0.9200
If the price regains upward momentum, it can test these levels as resistance points.
3. Stop Loss Level.
Stop Loss.
$0.7550
This is below the support level to minimize losses if the price breaks down further.
Trading Strategy. Long Position.
1. Enter between $0.7700 and $0.8000.
2. Set your Stop loss at $0.7550 to limit risk.
3. Take profits in stages at $0.8500, $0.8800, and $0.9200.
Key Factors to Watch.
1. Volume.
A strong increase in buying volume around the buy zone could confirm a reversal.
2. Market Sentiment.
Check BTC and other major altcoins' performance, as FTM often correlates with the broader market.
3. News or Updates.
Any updates related to the Fantom ecosystem could drive price action.
This analysis is designed for educational purposes only. Please use proper risk management and do your own research before entering trades.
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