3D Chart Analysis of FTM
3D Chart Analysis of FTM/USDT
Overall Market Context
Support Box (Highlighted Zone):
This demand zone is anchored at the 0.786 Fibonacci retracement ($0.45), drawn from the mid-October swing low. It also aligns with the higher range of the May 2022 - Feb 2024 consolidation, serving historically as a pivotal zone for support during accumulation, resistance during rejections, and later as the midrange of the broader structure.
Structural Significance:
The 200 EMA (3D timeframe) converges near this level, emphasizing its importance as a structural support level.
Market Cycle Context:
The recent correction from the swing highs at $1.50 is consistent with historical patterns of re-accumulation at support zones. This suggests a potential bottoming structure if the demand zone (blue box) holds.
Momentum Analysis - Stochastic Oscillator
The Stoch (14,3,3) has crossed upward from deep oversold levels (below 20), indicating the potential for bullish momentum to emerge.
This oscillator aligns with the expectation of a short-term bounce or rally from the demand zone.
Key Levels to Watch
Midrange ($0.45):
This is the immediate resistance within the current range. Flipping this level to support would confirm bullish continuation toward higher targets.
$0.45–$0.54 (Demand Zone):
This is the primary support zone, and a strong reaction here will validate the area's importance.
Holding this level opens the path for upward momentum targeting higher levels.
Yearly Open ($0.678):
Reclaiming this level is pivotal for bulls to re-establish dominance and signal a continuation of the uptrend.
Upper Target ($1.20–$1.48):
These levels correspond to previous swing highs and are potential take-profit targets or zones for observing market reaction. Sustaining bullish structure above these levels may extend the rally further.
Price Action Setup
A bounce from the $0.45–$0.55 zone is anticipated, targeting the yearly open ($0.678) and eventually the upper range ($1.20–$1.48).
Consolidation or rejection below the yearly open could trigger another retest of the demand zone.
A clean reclaim of the yearly open ($0.678) will be a strong bullish signal, supporting the idea of continuation toward the upper targets.
Interpretation and Strategy
For Bulls:
Focus on price reaction between $0.45–$0.55 to confirm demand and establish entries.
Targets include $0.678 (yearly open), followed by $1.20–$1.48, with the potential for higher extensions if the bullish trend remains intact.
For Bears:
If the $0.45–$0.55 zone fails, this would signal weakness, opening the door for a deeper correction to $0.30.
Conclusion
The $0.45–$0.55 demand zone is the key battleground for determining the next major move. With bullish signals from the Stochastic Oscillator and alignment of significant support levels, a short-term bounce is highly probable.
However, confirmation of strength will be necessary to validate a larger bullish continuation.
Overall Market Context
Support Box (Highlighted Zone):
This demand zone is anchored at the 0.786 Fibonacci retracement ($0.45), drawn from the mid-October swing low. It also aligns with the higher range of the May 2022 - Feb 2024 consolidation, serving historically as a pivotal zone for support during accumulation, resistance during rejections, and later as the midrange of the broader structure.
Structural Significance:
The 200 EMA (3D timeframe) converges near this level, emphasizing its importance as a structural support level.
Market Cycle Context:
The recent correction from the swing highs at $1.50 is consistent with historical patterns of re-accumulation at support zones. This suggests a potential bottoming structure if the demand zone (blue box) holds.
Momentum Analysis - Stochastic Oscillator
The Stoch (14,3,3) has crossed upward from deep oversold levels (below 20), indicating the potential for bullish momentum to emerge.
This oscillator aligns with the expectation of a short-term bounce or rally from the demand zone.
Key Levels to Watch
Midrange ($0.45):
This is the immediate resistance within the current range. Flipping this level to support would confirm bullish continuation toward higher targets.
$0.45–$0.54 (Demand Zone):
This is the primary support zone, and a strong reaction here will validate the area's importance.
Holding this level opens the path for upward momentum targeting higher levels.
Yearly Open ($0.678):
Reclaiming this level is pivotal for bulls to re-establish dominance and signal a continuation of the uptrend.
Upper Target ($1.20–$1.48):
These levels correspond to previous swing highs and are potential take-profit targets or zones for observing market reaction. Sustaining bullish structure above these levels may extend the rally further.
Price Action Setup
A bounce from the $0.45–$0.55 zone is anticipated, targeting the yearly open ($0.678) and eventually the upper range ($1.20–$1.48).
Consolidation or rejection below the yearly open could trigger another retest of the demand zone.
A clean reclaim of the yearly open ($0.678) will be a strong bullish signal, supporting the idea of continuation toward the upper targets.
Interpretation and Strategy
For Bulls:
Focus on price reaction between $0.45–$0.55 to confirm demand and establish entries.
Targets include $0.678 (yearly open), followed by $1.20–$1.48, with the potential for higher extensions if the bullish trend remains intact.
For Bears:
If the $0.45–$0.55 zone fails, this would signal weakness, opening the door for a deeper correction to $0.30.
Conclusion
The $0.45–$0.55 demand zone is the key battleground for determining the next major move. With bullish signals from the Stochastic Oscillator and alignment of significant support levels, a short-term bounce is highly probable.
However, confirmation of strength will be necessary to validate a larger bullish continuation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.