thenewscrypto.com
- $FTT is currently trading at $1.97, down 7.80% in 24 hours.
- A break above $2.10 could signal a reversal toward $2.30.
FTX will begin its creditor repayments on February 18, 2025, with $16 billion allocated for payouts. Phase 1 will distribute $6.5 billion to $7 billion in new liquidity. Creditors with claims below $50,000 will be fully repaid. Additionally, they will earn 9% annual interest on their claims. Another allocation for customer and unsecured claims is scheduled for April 11, 2025.
FTX Token ($FTT) is currently trading at $1.97, reflecting a 7.89% decline in the last 24 hours. The market cap stands at $655.6 million, mirroring the same percentage drop. However, trading volume surged 79.66% to $61.32 million, indicating heightened market activity. The market cap ratio is at 9.32%, signalling strong liquidity despite price declines.
Technical Indicators and Market Trends
$FTT has found strong support at $1.90. If the price breaks below this level, it could test the next support at $1.75. On the upside, resistance is near $2.10. If the price breaks above this level, it could push toward $2.30. A further bullish breakout might take $FTT toward the $2.50 range, but sustained buying pressure is required.
The 14-day RSI is currently at 41.53, indicating bearish momentum. The RSI moving average is 48.17, suggesting weak buying pressure. If RSI drops below 40, $FTT could enter oversold territory, possibly leading to a short-term bounce. A break above 50 on the RSI would indicate a shift toward bullish momentum.
The CMF is at -0.26, suggesting that capital outflows are stronger than inflows. This indicates that sellers have control over the market. If CMF turns positive, it would signal increasing buying pressure and could push $FTT toward higher price levels.
$FTT is facing downward pressure as it nears key support levels. If selling momentum continues, the token could dip below $1.90. However, a surge in volume and improved sentiment could help $FTT reclaim $2.10 and target $2.30 in the near term.