A symmetrical triangle that had formed on the daily chart of 
FTTUSDT in the last two weeks has been confirmed in the past 48 hours. During yesterday's trading session, the altcoin witnessed a remarkable surge in value, exceeding a 35% increase. After closing yesterday's candle at $4.4429, the cryptocurrency's value has slightly corrected and is currently trading at that level.
Nonetheless, there is a possibility that FTT will continue to rise over the next few days. This potential upward movement could result in the altcoin converting the $5.6040 resistance level into a support level. It's worth noting, however, that the daily Relative Strength Index (RSI) line is approaching the RSI Simple Moving Average (SMA) line, indicating a decrease in buyer strength.
If these two lines intersect, it could trigger a significant bearish technical signal. As a result, FTT's price may experience a correction, potentially dropping to as low as the critical support level at $2.6815.
FTTUSDT in the last two weeks has been confirmed in the past 48 hours. During yesterday's trading session, the altcoin witnessed a remarkable surge in value, exceeding a 35% increase. After closing yesterday's candle at $4.4429, the cryptocurrency's value has slightly corrected and is currently trading at that level.Nonetheless, there is a possibility that FTT will continue to rise over the next few days. This potential upward movement could result in the altcoin converting the $5.6040 resistance level into a support level. It's worth noting, however, that the daily Relative Strength Index (RSI) line is approaching the RSI Simple Moving Average (SMA) line, indicating a decrease in buyer strength.
If these two lines intersect, it could trigger a significant bearish technical signal. As a result, FTT's price may experience a correction, potentially dropping to as low as the critical support level at $2.6815.
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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.
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.