FTM has performed very well since 21st Dec, gaining 155% to date. It is eye-opening when you realise how large the width of these channels are and the benefits of holding a coin for the long-term; especially those with good fundamentals.
We can see FTM has long-term support (bottom black line), it is trading above all EMA’s and is currently using the 20-day EMA as support. FTM has attempted to breakout from its daily resistance at ~3.33 and faced pullback which may partly be due to the weakness in BTC. It is currently holding short-term support where it has previously seen long candle wicks.
If it hits the short-term support at ~2.56 this could be a good area to look for buy setups for a re-test of ~3.33 resistance (29.15% gain). Alternatively, FTM could push toward the resistance from this point without further pullback and if that happens, there is a good chance that it flips the ~3.33 level to support.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!
We can see FTM has long-term support (bottom black line), it is trading above all EMA’s and is currently using the 20-day EMA as support. FTM has attempted to breakout from its daily resistance at ~3.33 and faced pullback which may partly be due to the weakness in BTC. It is currently holding short-term support where it has previously seen long candle wicks.
If it hits the short-term support at ~2.56 this could be a good area to look for buy setups for a re-test of ~3.33 resistance (29.15% gain). Alternatively, FTM could push toward the resistance from this point without further pullback and if that happens, there is a good chance that it flips the ~3.33 level to support.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!