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- Recent bullish momentum of FTT indicates potential for a 400% surge, drawing strong interest from traders and analysts.
- Clear bullish wave since late 2023 positions FTT as a key contender for independent market performance.
In a post on TradingView, well-known crypto analyst Alan Santana notes that FTT token has shown a notable bottoming pattern since late 2023, with additional evidence in July 2024. Especially, the lower low in July arrived earlier than predicted, suggesting possible separation from the larger market.
According to Santana, assets that deviate from the overall trend often act autonomously and may even move even as other assets stay the same.
FTT Targets 400% Surge with Strategic Insights for Traders
September 2024 saw FTT’s bullish momentum take hold and set an unambiguous bullish wave. FTT is likely to close at its highest level since December 2023, exceeding the $3.45 threshold as the present week develops. Santana sees this as a fundamental indication that suggests more advances are possible.
He does stress, though, that even if the charts point to a bullish future, traders have to be ready for both upward possibility and downside threats.
Santana lists particular FTT targets and projects possible gains of 280% and 400%, respectively, which would translate to prices of $14.30 and $19.36, respectively. He says establishing resistance levels as profit objectives and support levels for stop-loss tactics can help one negotiate market turbulence.
For those thinking about FTT, the strategy is obvious: either maintain long or close positions should the market turn bearish or take gains if prices climb.
Meanwhile, FTT is swapped hands at about $3.63 at the time of writing, up 5.11% over the last 24 hours and 53.18% over the last 30 days. Reflecting increasing investor confidence, its market cap has jumped above $1.10 billion.
The comeback of FTT coincides with problems around FTX, its parent platform. CNF noted last November that seeking $1.9 billion in damages, FTX and Alameda Research sued Binance and its founder, Changpeng Zhao.
More recently, as we previously reported, Sam Bankman-Fried’s possible presidential pardon has generated public discussion driven by his large past contributions to Joe Biden’s campaign.
Though Polymarket estimates the possibility at about 20%, Elon Musk’s remarks on the topic and Biden’s dubious past of pardons only heighten the mystery.