FTX Price Analysis: FTT Nearing Inverted H&S Pattern Breakout Eyes $40

An inverted head and shoulder pattern increased the likelihood of a beat rally, propelling the FTT prices above the $29 mark
Published by
FTX Price Analysis: FTT Nearing Inverted H&S Pattern Breakout Eyes $40

The FTX(FTT) price action shows a bullish growth ready to surpass the overhead supply zone at the $28 mark. The improvement in the underlying bullish sentiment is evident by the inverted head-shoulder pattern teasing a breakout rally. Will the improving market conditions launch prices above $40?

Advertisement

Key points

  • The FTT price shows a 13.5% gain in the last four days.
  • Pattern breakout may surge FTT price 33% higher
  • The intraday trading volume in the FTT token is $1109Million, indicating a 76% gain.

Source- Tradingview

The FTT/USDT pair has witnessed a constant downfall since early April, which plunged it to a low of $21.15. However, the high demand at these lower levels triggered a minor recovery rally, surging the $29 resistance.

However, the recent sell-off in the crypto market propelled a 17% bearish pullback to $24.2. Anyhow, the FTT price started the week on a bullish note, as the altcoin rebounded from mentioned support with a long bullish engulfing candle.

The sustained buying propelled the FTT price 13% higher, where it currently trades at $27.4. If the buying pressure persists, the coin price will rechallenge the $29 resistance, and in response to inverted head and shoulder, it is most likely to breach it.

Completing this bullish reversal pattern, with a decisive breakout and closing above the $29 resistance, the FTT price will likely hit $33, followed by $40.

Advertisement

Technical indicator

The DMI indicator shows a bullish crossover in the DI lines Sabotage the previous bearish alignment. Hence the technical indicator forecasts a bullish trend ready to redefine the price action.

Siding with the buying team, the Bollinger bands showcase a lateral shift in trend after a downfall indicating a potential reversal spot. Moreover, the bullish candle surpasses the midline and aims to redirect the upper band. 

Therefore, the FTT  traders could wait for a candle closing above $29 for better confirmation for triangle pattern.

  • Resistance level- $33.4 and $43.5
  • Support levels- $24.1 and $21.61
Advertisement
Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Pepe Coin Price Forms Multi-Year H&S Pattern as Whale Selling Intensifies

Pepe Coin price trades at $0.0000065 today, Oct. 31, up by 1.75% from the previous…

October 31, 2025
  • Price Analysis

Ethereum Price Forecast: $5K in Sight Post-Fusaka Upgrade

Ethereum price remains under pressure, hovering near $3,800 after breaking below the $3,900 support level.…

October 31, 2025
  • Price Analysis

Chainlink Price Eyes $25 as AllUnity Integrates CCIP for EURAU Expansion

The Chainlink price has stayed firm even as the broader market shows mixed signals. AllUnity’s…

October 31, 2025
  • Price Analysis

Sei Price Forecast: Will Robinhood Listing Spark a Rally?

Sei price slipped despite recent optimism around its Robinhood debut, falling 4% in the past…

October 31, 2025
  • Price Analysis

XRP Price Outlook as ETF Nears Possible November 13 Launch

The XRP price continues to attract significant attention as excitement builds ahead of the long-awaited…

October 31, 2025
  • Price Analysis

Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds

Cardano price crash continued today, Oct. 30, after the Federal Reserve delivered a hawkish cut.…

October 30, 2025