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

Published July 15, 2021 | Updated July 15, 2021

Img Source: KogoCrypto


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

  • 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
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Domenic CoinGape 64 Articles
Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship. He saw the vision to become an entrepreneur and wanted to achieve success from a young age. Domenic owned & operated a car detailing business since the age of 16, along with being a part of two CBD businesses through 2018 & 2019. He started his investment and trading career early trading in 2017 when he bought a newly released cryptocurrency alt-coin and saw 10x return in a few months. He then realized there was much potential and dove head first into learning everything he could. He became very passionate about technical analysis and knew it was his route to financial freedom. Over the last 4 years, Domenic has shared his analysis with many groups and received amazing feedback. Shortly after he wanted to help assist in the pursuit of spreading and helping others achieve success in the trading industry.
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