Binance Technical Analysis: $FTM /USDT
Current Price: $0.9485 (-3.93%)
Timeframe: 30m chart
Analysis Overview
$FTM /USDT has seen significant selling pressure recently, breaking below key psychological support levels. Bears are currently in control, with the price approaching critical support zones that could offer a bounce-back opportunity for bulls.
Targets
1. Immediate Support (Target 1): $0.9300
If this level holds, we could see a short-term reversal as buyers defend this critical support area.
2. Recovery Resistance (Target 2): $0.9700
This level serves as a crucial resistance point. Breaking above it could indicate a return of bullish momentum.
3. Extended Bullish Target (Target 3): $1.000
Achieving this level would signify a strong recovery and the potential start of a bullish trend.
Risk Management
Support Zone: $0.9300
A breach below this level might lead to further downside towards $0.9000.
Stop-Loss Suggestion: $0.9200
To protect against unexpected downside movements if bearish momentum persists.
Trading Insights
Short-Term Strategy: Look for a potential entry near $0.9300 with a stop-loss at $0.9200 and a target of $0.9700.
Long-Term Strategy: If $0.9700 is breached, consider extending the target to $1.000 for a more significant profit.
Advice:
Secure partial profits near $0.9700, and adjust your stop-loss to breakeven to lock in gains. Monitor the price action closely for signs of continued bearish pressure below $0.9300.