Long
FTM Long Entry
As most altcoins follow the path of Bitcoin FTM fell 25% this week due to Bitcoins price drop. The levels now are very oversold on the 1hr time frame, at the 10 levels. The price has fallen to a key support area that FTM has respected before, at the $2.05 area. As long as Bitcoin/Ethereum’s price doesn’t drop drastically and finds stability, a long at this level seems appropriate. The target for this trade is at the recent high of $2.40 which is a 20% gain. The stop-loss area for this trade is at around the $1.76 level.
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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.