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FTT Token Price Prediction: FTX Exchange Token (FTT) Bulls Must Hold this Line to Start a Strong Bull Uptrend

Altcoins

coingape.com 15 July 2021 07:54, UTC
  
Reading time: ~3 m

  • FTT token price Is up over 30% from its low in June
  • FTT Price has respected an ascending channel for nearly 3 weeks
  • FTT Token must break & hold its mid term trend to be set free

FTT Token Price Overview

FTT token had an amazing run the last year as it rose over 2000% off its low. FTT token fell victim to the trend of the market and has fallen over -50% off its ATH. FTX crypto exchange is becoming a widespread name as it nears the top 3 cryptocurrency trading volume in the world. The strong correlation with FTT token & FTX exchange has likely held prices higher as there is utility involved with FTT, similar to BNB & Binance. FTT token has shown more strength than many alt coins which has investors peaking an eye on a potential stronger revival.

FTX has been stuck within an ascending channel the last 3 weeks as traders fight for a strong breakout to either side. In the past week, FTT token price experienced a rejection at major resistance zone of $30.55-$31.95.

Based on our FTT token price prediction, price must break & hold this mark to be set free for a shot to its first target of $34. Along with this resistance zone lies a mid term trend line (shown in black). FTT Price must also break and hold this line for bulls to have a chance to start a stronger bull trend.

FTT Token Price Prediction: FTT/USDT 4 Hour Chart

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At the time of writing, the 200MA has held the FTT token price from further downside. This moving average is also met with the bottom trend line of the 3 week ascending channel. If bears manage to take back control of FTT token and break these two marks, FTT price will have a drop to major support of $26.95. This would also break the 3 week trend line which would be a bearish scenario for FTT price as it will likely experience further downfalls.

While looking at the Stochastic RSI we can see strength has been coiling within the oversold territory. This may result in a large spike back above the 20 value which will likely send FTT price back near $30. The regular RSI also is showing a slight bullish bias as it has formed a bullish divergence. A break above the 50 value on the strength would be the best scenario for FTT token price.

FTT Price Intraday levels

  • Spot rate: $28.96
  • Trend: Bullish
  • Volatility: Medium
  • Support: $28
  • Resistance: $29.59

   Source
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