April is over, as are positive opinions and forecasts about the FTM price movement. Buyers were unable to keep the price in the global consolidation and gave control over the mark of $1.1. The defeat of buyers was total. Buyers didn’t even try to make any fights or bounce back. In April, the FTM price fell by 50%. The monthly candle closed with a full body, giving no chance of thoughts of the beginning of the reversal. https://www.tradingview.com/x/79rr1HKF/ Thus, the main scenario at the moment is the continuation of the fall of the FTM price to $0.45. To receive final confirmation of this scenario, buyers must test the strength range of $1.2. There must be serious opposition from sellers in this range. Why? All sellers who expect the trend to continue to fall in the range of $1.2 will gladly open short positions, and big players will be ready to increase their positions. Therefore, in the case of a local growth wave, one should not entertain hopes of completing the correction in the FTM market. Neither the nature of the price nor the trading volumes even hint at such a scenario. Technical Analysis Of FTM On The Daily Timeframe https://www.tradingview.com/x/1gTapOeK/ Analyzing the FTM price movement on the daily timeframe, you can see a clear trend channel of the fall from January 2022. Sellers have almost reached the bottom trend line of this channel. The trading volumes from 30 April – 1 May increased significantly, indicat...
