There are emerging signs of a bullish divergence
In the 4-hour chart for FTM, there are emerging signs of a bullish divergence, indicating the potential for a shift in market sentiment. The price has reached a key support zone between $0.38 and $0.4, which is recognized as a strong level that could prevent further decline.
If the price finds stability in this support area, it could lead to an upward movement, targeting higher levels around $0.44 and $0.49. The formation of the bullish divergence adds to the likelihood of a positive reversal. This makes the current zone crucial for monitoring as it might offer a good opportunity for an upward move if the support holds.
Given the current technical setup, keeping an eye on FTM is advisable, as further bullish confirmations could lead to a significant move upwards. However, if the support fails, the downtrend may continue, making it essential to watch how the price reacts in this area.
If the price finds stability in this support area, it could lead to an upward movement, targeting higher levels around $0.44 and $0.49. The formation of the bullish divergence adds to the likelihood of a positive reversal. This makes the current zone crucial for monitoring as it might offer a good opportunity for an upward move if the support holds.
Given the current technical setup, keeping an eye on FTM is advisable, as further bullish confirmations could lead to a significant move upwards. However, if the support fails, the downtrend may continue, making it essential to watch how the price reacts in this area.
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