FTM/USDT 1DInterval Resistance and Support
Hello everyone, I invite you to review the FTM chart this time on a one-day interval. As we can see, the price is moving in the downtrend channel, which we have marked with blue lines.
Let's start by marking the support spots for the price and we see that we have the first support at $0.35, the second very strong support at $0.27, and the next support at $0.16.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that first we have a resistance zone from $0.44 to $0.48, then we have resistance at $0.51, then we have a second strong resistance zone from $0.55 to $0.59, once price breaks it it will move towards resistance at $0.65 .
It is worth paying attention to the EMA Cross 10 and 30, which clearly indicate the place of entering the downtrend.
The CHOP index indicates that there is some energy left for further movement, the MACD indicates the continuation of the downward trend, while the RSI is moving in the lower part of the range and is approaching the lower limit, thus creating room for new increases.
Let's start by marking the support spots for the price and we see that we have the first support at $0.35, the second very strong support at $0.27, and the next support at $0.16.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that first we have a resistance zone from $0.44 to $0.48, then we have resistance at $0.51, then we have a second strong resistance zone from $0.55 to $0.59, once price breaks it it will move towards resistance at $0.65 .
It is worth paying attention to the EMA Cross 10 and 30, which clearly indicate the place of entering the downtrend.
The CHOP index indicates that there is some energy left for further movement, the MACD indicates the continuation of the downward trend, while the RSI is moving in the lower part of the range and is approaching the lower limit, thus creating room for new increases.
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