Technical analysis by onlysignals about Symbol FTT: Sell recommendation (5/13/2024)

FTTUSDT appears to be forming a bearish flag pattern, characterized by a downward-sloping channel following a prior decline. Notably, during the formation of this flag pattern, there has been a lack of divergence, indicating a consistent downward momentum without significant deviation. The retracement from the 50% Fibonacci level further supports this bearish outlook. Additionally, analysis using Heikin Ashi candlesticks suggests a potential continuation of the downward movement. Furthermore, divergence observed during the retracement phase underscores the likelihood of a downward trajectory in the near term.