The post FTX Token Price Prediction: Will FTT Price Record A 100% Upside This AltSeason? appeared first on Coinpedia Fintech News
Despite increased selling pressure within the cryptocurrency market, the FTX price has recorded a bullish price action since the week started. This indicates an increase in the buying-over-selling pressure for the altcoin in the crypto space.
Further, with questions like “How high will FTX go?” and “What’s the future of FTX Coin?” will FTT price make a bullish comeback this year?
Dive in as, in this article, we have covered the in-depth market sentiments, price analysis, and possible short-term bullish and bearish price targets of the FTX (FTT) Token.
FTT Price Displays Increased Price Action:
With the rising price volatility in the crypto space, the FTX price has jumped 6.34% in valuation with a trading volume of $19.887 Million. Moreover, it has added 2.14% within the past seven days and approximately 1% over the last 30 days, highlighting increased buying pressure for the altcoin.
Further, the altcoin has formed a symmetric triangle pattern in the 1D time frame and has continued to trade within it since the start of July. Moreover, it is on the verge of breaking the triangle pattern. However, the outcome of it is unpredictable.
With a trading price of $1.3888 and a circulating supply of 328,895,104 FTT tokens, it has secured the 123rd spot in the global cryptocurrency list with a market capitalization of $463.131 Million. Notably, it is presently trading at a discount of 98.35% from its all-time high (ATH) of $85.02.
FTX Token Market Sentiments:
The Simple Moving Average (SMA) constantly acts as a resistance to the price chart in the 1D time frame, indicating a weak price action for the FTT crypto token in the market.
Further, the MACD indicator has displayed a constant flatline with its averages showing a neutral trend. This highlights uncertainty in the future price action of the altcoin in the crypto space.
Will FTT Price Go Up Again?
If the market regains momentum, the FTX price will prepare to test its resistance level of $1.5775. Furthermore, if the bulls maintain the price at that level, this could result in it heading toward its upper resistance level of $2.4675 during the upcoming weeks.
Conversely, if the bears continue to dominate the crypto market, the FTT price will break down its support trendline of the triangle pattern and test its crucial support level of $1.060 in the coming time.
#PriceAnalysis #Altcoins [Source: Coinpedia]