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- Bullish FTT price prediction ranges from $30.40 to $34.80
- FTT price might also reach $35 soon.
- FTT bearish market price prediction for 2021 is $21.90.
In FTX Token (FTT) price prediction 2021, we use statistics, price patterns, RSI, and much other information about FTT to analyze the future movement of the cryptocurrency.
The native cryptocurrency token of the crypto derivatives trading platform FTX is FTT. FTX, backed by Almeda Research, it is one of the leading companies in crypto trading. FTX is designed by professionals with confirmed expertise in the industry. FTX derivatives are stablecoin-settled and only require one universal margin wallet.
According to CoinGecko, the FTT price is trading at $26.61 with a 24-hour trading volume of $103,552,201, at the time of writing. However, FTT has decreased by 7.37% in the last 24 hours.
Moreover, FTT has a circulating supply of 94,346,957.52 FTT. Currently, FTT trades in cryptocurrency exchanges such as Binance, Huobi Global, FTX, HitBTC, and Bitcoin.com Exchange
FTX Token (FTT) Price Prediction 2021
FTX Token (FTT) holds the 35th position on CoinGecko right now. FTT price prediction 2021 is explained below with an hourly time frame.
The above chart shows a rising wedge pattern. The rising wedge pattern is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. A rising wedge pattern can be one of the most difficult patterns to accurately recognize and trade.
In the hourly time frame chart, if the price of the FTT breaks the resistance level it will reach the target of $32. Or else, if the price of the FTT breaks the support level of $28.30 means it will drop to the next support level at $25.07. So, the trend of the FTT is based on the breakout.
FTT Support and Resistance Level
The below chart shows the support and resistance level of FTT.
From the above hourly time frames, it is clear the following are the resistance and support levels of FTT.
- Resistance Level 1 – $30.40
- Resistance Level 2 – $32.20
- Resistance Level 3 – $34.80
- Support Level 1 – $28.10
- Support Level 2 – $25.30
- Support Level 3 – $21.90
The charts show that FTT has performed a bullish trend over the past month. If this trend continues, FTT might run along with the bulls overtaking its resistance level at $34.80.
Conversely, if the investors turn against the crypto, the price of FTT might plummet to almost $21.90, a bearish signal.
FTX Token (FTT) Average Directional Index (ADX)
Now let’s look at the average directional index (ADX) of FTT. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line.
The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It often combined with directional indicators.
The above chart shows the ADX of FTT stays above the range of 13, so it indicates a weak trend.
Conclusion
The FTT is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term FTT price prediction for 2021 is bullish. More so, it has a huge possibility of overtaking its current all-time-high (ATH) of $63.12 this year. However, this will only happen if it breaks many past psychological resistances.
Furthermore, with the ongoing developments and upgrades within the FTT ecosystem, it could experience a great future ahead in 2021. It may reach $34.80 soon and it might even reach high heights, however reaching $35, if investors have planned that FTT is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.