# You are protected by God's power

"God is protecting you" 

# by God's power

Here "power" is a way of saying that God is strong and able to protect believers. 

# through faith

"because of your faith" 

# that is ready to be revealed

"that God is ready to reveal"

# in the last time

This refers to a particular time, not to an extended period of time. This particular time is as the world as we know it is ending, before the age to come begins.