I invite you to review the FTM chart against USDT, on a four-hour interval. in this situation, we can use the yellow lines to mark a triangle in which the price is approaching the exit direction. We can also see that the EMA Cross 50, marked with a yellow line, indicates a downtrend, when we see the yellow line cross the blue line, it will be a signal for a larger upward move.
Now we can move on to identify the support lines that the price should rely on, and here we see that we have the first support at $0.20, equal to the 0.618 Fib Retracemant that has held the price in recent days. We still have support at $0.18 and $0.16.
Looking the other way, we can see that price tried to break through the resistance at 0.618 Fib Retracement three times, but each time it bounced off it, and now we have first resistance at $0.22, second resistance at $0.24, third important resistance at $0.26, and fourth at $0.28.
It is worth paying attention to the volume, which is quite small, but with a visible advantage for buyers. The CHOP index indicates that the energy has been used, the MACD confirms the local uptrend, while the RSI, like the CHOP index, shows overheating, which may cause the price to correct.
Now we can move on to identify the support lines that the price should rely on, and here we see that we have the first support at $0.20, equal to the 0.618 Fib Retracemant that has held the price in recent days. We still have support at $0.18 and $0.16.
Looking the other way, we can see that price tried to break through the resistance at 0.618 Fib Retracement three times, but each time it bounced off it, and now we have first resistance at $0.22, second resistance at $0.24, third important resistance at $0.26, and fourth at $0.28.
It is worth paying attention to the volume, which is quite small, but with a visible advantage for buyers. The CHOP index indicates that the energy has been used, the MACD confirms the local uptrend, while the RSI, like the CHOP index, shows overheating, which may cause the price to correct.