FTM / USDT 1D Interval - Support and Resistance
Hello everyone, I invite you to review the FTM chart in pair to USDT, on a one-day interval. We will start by marking the downtrend line that the price has broken up. Next, we can define the lines of the current uptrend.
Now let's move on to marking the support that we should take into account after such dynamic increases. And here we have the first support at the price of $0.42, the second support at the price of $0.37, then we can mark a strong support zone to which the price may move back from $0.33 to $0.29, and then support at the price of $0.24.
Looking the other way, we can see that we are currently facing a very strong resistance at $0.52, but when we manage to overcome it and positively test it, we can see an increase to around $0.74.
It is worth paying attention to the EMA Cross 50 and 200, because we see that the 50 marked on the chart with the yellow line dynamically turns upwards and when it crosses the 200 marked with the blue line, we can see a bullish uptrend.
The Chop Index indicates that we are slowly regaining energy, the MACD indicates an ongoing uptrend, while the RSI has a slight rebound, but is still moving above the upper range, which may lead to a price correction.
Now let's move on to marking the support that we should take into account after such dynamic increases. And here we have the first support at the price of $0.42, the second support at the price of $0.37, then we can mark a strong support zone to which the price may move back from $0.33 to $0.29, and then support at the price of $0.24.
Looking the other way, we can see that we are currently facing a very strong resistance at $0.52, but when we manage to overcome it and positively test it, we can see an increase to around $0.74.
It is worth paying attention to the EMA Cross 50 and 200, because we see that the 50 marked on the chart with the yellow line dynamically turns upwards and when it crosses the 200 marked with the blue line, we can see a bullish uptrend.
The Chop Index indicates that we are slowly regaining energy, the MACD indicates an ongoing uptrend, while the RSI has a slight rebound, but is still moving above the upper range, which may lead to a price correction.