- The trading volume of the FTT token in the last 24-hours at the time of writing this article is +50%
- The price of FTT/BTC and FTT/ETH at the time of writing this article were 0.0008608 BTC and 0.01202 ETH, respectively
- The 20MA is changing its direction and is heading towards the 50MA
Long term View:-
In the daily time interval, we can see the price broke the support level, and the price is in the bearish trend so let’s have a look at the technical indicator to see if this bearish trend will continue or we can see a trend reversal by the bulls. Firstly, we can see the MACD, which shows green histograms as the MACD line is below the signal line, and there is no sign that the lines will change their direction soon.
In addition to that, we can see the RSI is in the neutral zone near 41, and the RSI line is pointing sideways, which means the bears and bulls are giving each other a good fight in the order book. Lastly, we can see the Moving average as the 20MA is heading towards the 50MA, but the 20MA and 50MA are above the 100MA, which is a bearish sign.
Short term view:-
In the 4-hour time interval, we can see the 20MA is acting as a resistance, and also the 20MA has crossed 50MA and 100MA, which is a very bearish sign, and there is no sign that the lines will change their direction soon. In addition to that, we can see the RSI is in the neutral zone near 35, and the RSI line is pointing towards the overbought zone of 70, which means the bulls are winning the fight against the bears in the order book.
Lastly, we can see the MACD, which is showing red histograms as the MACD line is below the signal line, but we can see the MACD line is close to the signal line so we can see a crossing if there is an excellent bullish move, then it is a buy signal for the traders.
Conclusion:-
Looking at both the long term and short term, we can see the price has broken the resistance and is now bearish, but the price is taking support, and the bulls are pushing the price up now. As we can see a green candle after a bearish run and in the 4-hour, we can see the RSI pointing towards the overbought zone and MACD is crossing in 4-hour is also a sign for the trend reversal
RESISTANCE:- $59.08,$63.53
SUPPORT:- $52.85,$48.10