FTM Technical Analysis: Another Growth Wave Before The Fall

The FTM cryptocurrency has entered a correction phase like most cryptocurrencies since November 2021. Sellers have managed to move the FTM price beyond the global growth trend that buyers have held since March 2020. So far, this has not caused panic in the market and aggressive price declines. Now, the FTM price is moving peacefully within the consolidation of $1.1-$3.2. It is wide enough range for profitable and efficient trade. However, what are the chances of buyers to break the mark of $3.2 and start to form a new growth wave? https://www.tradingview.com/x/MFm7U3Ms/ In the weekly timeframe, we see that it is becoming increasingly difficult for buyers to update their highs. If you compare the growth wave from January 2021 and compare it with the wave from July 2021 – you can see a significant difference in dynamics. Therefore, a probable new growth wave does not yet imply wild success and aggressive dynamics. Another proof of this is the trading volumes at historical highs. That is, the FTM price began to grow poorly not because of fierce resistance from sellers, but because of lack of demand from buyers. Therefore, a positive scenario for the FTM cryptocurrency is the continuation of price growth to $7. Until the situation with the dynamics and trading volumes changes, this will be the main scenario. In case of weakness of buyers in the range of $1.1, the FTM price will fall to $0.45 without any problems. However, at the m...