The chart is for the cryptocurrency pair FTM/USDT on the Binance exchange, displayed on a daily timeframe with Heikin Ashi candles. The chart shows various supply and demand zones, Points of Interest (POI), and key levels.
### Chart Analysis: 1. **Current Price**: The current price of FTM/USDT is 0.6084 USDT. 2. **Supply Zones**: - Around 1.8000 USDT - Around 1.3000 USDT - Around 0.9500 USDT - Around 0.8000 USDT
3. **Demand Zones**: - Around 0.3500 USDT - Around 0.5200 USDT
4. **Points of Interest (POI)**: - Multiple POIs indicated on the chart, suggesting significant levels where price action may have shown notable movements.
5. **Volume Profile**: - The volume profile on the right side shows higher trading volumes at certain price levels, especially around the mid-price range.
6. **Price Movements**: - The price has previously reached highs and experienced significant movements between the supply and demand zones.
### Key Observations: - **Immediate Support**: The nearest demand zone around 0.5200 USDT could act as immediate support. - **Immediate Resistance**: The nearest supply zone around 0.8000 USDT could act as immediate resistance. - **Market Trend**: Given the presence of multiple demand zones below the current price and supply zones above, the market appears to be in a range-bound phase or experiencing consolidation.
### Potential Trading Strategy: - **Long Position**: Consider entering a long position near the demand zone around 0.5200 USDT, with a target towards the supply zone at 0.8000 USDT. Ensure a stop loss below the 0.5200 USDT level to manage risk. - **Short Position**: Consider entering a short position near the supply zone at 0.8000 USDT, with a target towards the demand zone at 0.5200 USDT or below, depending on risk appetite and market conditions.
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