FTMUSDT.1D
2025-01-11
Category: None

FTM is currently in a corrective phase after a significant rally that tested the upper resistance (R2). The long-term trend remains upward, as indicated by the diagonal resistance trendline (R2) and higher lows formed over the past several months. However, the current pullback places the price in a consolidation zone, where market participants are deciding the next direction.

The support trendline (S1) is holding well, forming a strong base around the $0.5220 level, while the price is struggling to breach the critical horizontal resistance (R1) at $1.2218.

Support & Resistance Levels
Key levels to monitor include:

Resistance 1 (R1): $1.2218, a strong rejection zone from previous highs. This area must be decisively broken to confirm a bullish continuation.
Support 1 (S1): $0.5220, a robust support that aligns with the lower boundary of the consolidation range.
Support 2 (S2): $0.2537, a historical low and the last line of defense in case of further downside pressure.
Technical Indicators
MACD (12,26,Close):

The MACD line is below the signal line and trending in negative territory, which indicates bearish momentum is still present.
However, the histogram is showing signs of contraction, suggesting a potential shift in momentum.
RSI (14,Close):

The RSI is at 38.77, nearing oversold conditions. This suggests selling pressure is weakening and the price could be due for a reversal.
A move above the 50 level will confirm a bullish recovery.
Price Action & Patterns
FTM is currently trading within a rectangular consolidation range, with resistance at $1.2218 and support at $0.5220. This pattern suggests indecision, where the market is waiting for a catalyst to break out of this range.

The upward arrow indicates a potential bullish breakout scenario if buyers regain control, targeting R1 and potentially higher levels.

Projection & Scenario Analysis
Bullish Scenario:

If FTM breaks above R1 ($1.2218) with significant volume, the next likely target is the diagonal resistance (R2), around the $1.50–$1.60 range.
Beyond this, continuation toward the previous highs at $2.00 is plausible.
Bearish Scenario:

A breakdown below S1 ($0.5220) would expose the price to a retest of S2 ($0.2537).
Failure to hold S2 would confirm a bearish trend reversal, opening the door for a prolonged downtrend.
Conclusion
In my analysis, the market for FTM/USDT remains in a critical decision-making phase. While the technical indicators suggest weakening bearish momentum, confirmation of a bullish reversal will only come with a decisive break above R1 at $1.2218. For now, I remain cautiously optimistic, with a watchful eye on the key support at $0.5220 to guide my next moves.

This is a time for patience, as a breakout from this consolidation zone will provide the clearest signal for the next major trend. Until then, both scenarios remain equally possible.