Aliens TLDR

FTT’s bearish break below the $28.7-level led the alt to retest and eventually breach the $25-support (now immediate resistance).

From a near-term outlook, FTT’s rising wedge breakdown has pulled the alt below its 20 EMA (red) and the 50 EMA (cyan).

Furthermore, a convincing bearish crossover of these EMAs could impair the near-term buying efforts.

A close below the $25-level could aid near-term selling efforts to test the $23-$24 range in the coming sessions.

FTT Daily Chart In this timeframe, FTT saw a strong reversal from the 38.2% level.

Given the break below the $25-level on the H4 alongside the patterned break and bearish indications on the daily timeframe, FTT could test the $23-$24 range.