Short Position Entry:
It is recommended to open a short position in the range of 0.83 - 0.85. The current technical indicators suggest that if the price fails to break through this range and continue to rise, the likelihood of a pullback is high.
Stop Loss Position:
Set the stop loss at 0.88. If the price breaks through and stabilizes above this level, it indicates a market reversal, and a timely stop loss is needed.
Take Profit Position:
The initial take profit target is set at 0.75, which is the first support area during the downward process.
If the price declines further, the second take profit target can be set at 0.70, which is a strong support level in the market.
FTM Short-term Bearish: Pullback Expectation
1. Momentum Loss, Increased Pullback Risk
The current price of FTM is 0.84, but recent market momentum shows signs of weakness, especially as it approaches recent technical resistance areas. While there may be slight fluctuations in the short term, the overall trend indicates that FTM is at a relatively high position, lacking sufficient upward momentum. The market has entered a technical 'selling pressure zone', and the risk of a pullback is increasing.
2. Important Technical Resistance Levels
The FTM token is currently facing multiple tests of technical resistance levels, especially in the range of 0.83 - 0.85, which is the high point area of previous price declines. If the price cannot effectively break through, the market will face more selling pressure, leading to a price pullback. These resistance levels have almost become a 'sniper zone' for bears, making it difficult to break through.
3. Support Level Analysis
During the downturn, the first support level is around 0.75. If the price declines further and breaks this support level, it may accelerate the pullback towards the 0.70 area. This area is a key market support; once broken, the downside potential for FTM will open up.
4. Market Sentiment and Expectations
Overall market sentiment is cautious. In the short term, due to technical factors and market sentiment, the FTM token may continue to pull back. Investors should pay attention to the price response; if the price fails to break through the current resistance level and maintain an upward trend, short opportunities will become clearer.
Conclusion
Open a short position in the range of 0.83 - 0.85, set the stop loss at 0.88, and set the take profit in the ranges of 0.75 and 0.70. This strategy can effectively leverage market pullback opportunities while controlling risks and ensuring potential gains.
