Daily Technical Analysis On March 15: BTC, ETH, FTM – FTM Can Recover After 240% Drop From Peak?
BTC plan will update everyday, please follow us for the latest updates.
The crypto market behavior is very emotional. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). Also, people often sell their coins in the irrational reaction of seeing red numbers.
However, you need to determine long-term or short-term goals to execute sell or buy orders, if you do not have time to follow the market, please read our daily plan summary to better understand. Since the outbreak of war between Russia and Ukraine, BTC price has continuously dropped from ~$45,000 to the lowest price of ~$37,000 around ~18.2%, the fear greed index is continuously at the extreme fear level. However, is this an opportunity to buy goods or not, come to our plan.
BTC Technical Analysis
BTC still moving as our plan, yesterday the price has slightly increased by ~6.59%, price tends to retest EMA 34 but failed, the price closed below EMA 34,89 for a short-term downtrend. In general, the price is still sideways in the big frame: $33,000 – $45,000. Review frame of 4h and 1h, we have a short-term uptrend with the key level at $38,450 is an important support area. If the price breaks this level, the price will go back to retest the next support zone at $37.560. So with the signal on the 1h $4h chart, we should have BTC retest at $38.500 and then rise up to the ~$40,000 resistance area.
BTC/USDT daily & 1h chart | Source: TradingView
ETH Technical Analysis
ETH seems to have been no strong breakout in volume. With BTC support, however, ETH price only increased ~5% proving people are choosing BTC as safe haven for volatile days. Limited trading altcoins. Price still trading below EMA 34, 89 for a short-term downtrend. however we look at the volume of ETH a few days ago, price reductions and volume also reduce so plan next days will have dumps before having return increase price.
Signal: Sell priority
ETH/USDT daily chart | Source: TradingView
FTM Technical Analysis
Since Andre Cronje announced his departure from the crypto and defi markets, related tokens including FTM have had a huge drop and have not shown any signs of recovery, especially when the market is not stable. FTM has lost 70% from this news with a big volume from sellers.
If FTM continues to plummet and breaks the support at $0.9 then we will once again see FTM at $0.6.
FTM/USDT daily chart | Source: TradingView
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.