FTMUSDT is testing the 4-hour resistance level at $0.48, indicating that buyers are currently struggling to push the price higher. However, it is important to note that there was a clear bounce on the daily demand zone, suggesting that buyers are still present and actively purchasing at lower price levels.
If the price manages to break out of the 4-hour resistance level, it may signal the start of a bullish trend. According to Plancton's Rules, a well-known trading strategy, this would be a signal for new long positions. Traders who follow Plancton's Rules would look for confirmation of the breakout, such as increased volume or a price close above the resistance level, before entering a long position.