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The post <a href="https://coinpedia.org/price-analysis/ftx-token-faces-repeated-rejection-ftt-price-on-a-path-to-record-new-low/">FTX Token Faces Repeated Rejection! FTT Price On A Path To Record New Low?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry continues to record constant price fluctuation, highlighting a mixed sentiment in the cryptocurrency market. Moreover, despite a bullish jump, the FTX token fails to break out, indicating a strong bearish influence in the market. 
The FTX token started the year by trading in a closed range between $2.9126 and $3.3957 for a while. As the market volatility grew, the <a href="https://coinpedia.org/price-prediction/ftx-ftt-price-prediction/">FTT price</a> recorded a correction of over 19% in valuation, after which the price traded in a narrow space between $2.6409 and $2.9126 for a period. 
The bulls struggled to hold the price over the support level, but the bears overpowered the bulls, resulting in the token recording a correction of approximately 12% in value. Following this, the price traded sideways for a while, indicating weak buying and selling pressure in the market. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/1PjLUEWZ_AdlYEKYzZnPHhKcdA6XLTa3jRfqlSwf1Bvq7ruCxuTlEnGjwKiG4VPgtmWK1EWnw-tNpHBvytvVCq8zbHIOalRp_bA5VnJ-jgyy85qlCtpiCaIw6FwAJ-QsVryHwYRkZ00zchu5ozTap5c" alt="FTX Token Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: FTT/USDT
 </figcaption>
</figure> 
After multiple attempts, the bulls regained momentum and recorded a jump of 42.6% within the next few days. The FTT token then faced rejection at $3.3957, following which the price traded sideways for over a week. 
The market recorded a correction in value, resulting in the FTX token breaking down its support level. Following this, the FTX coin price traded in a consolidated range between $2.3812 and $2.9126 for a brief period. 
Recently, the price recorded a massive correction of 35.5% in valuation. Since then, the price has been trading sideways between $1.7049 and $2.0914, indicating a cool-off in the price action. 
<h2 class="wp-block-heading" id="h-will-ftx-price-rise-back-up">Will FTX Price Rise Back Up?</h2> 
The Relative Strength Index (RSI) records a bearish curve, suggesting a higher selling-over-buying pressure in the crypto market. Moreover, the averages show a bearish cross, highlighting a bearish price action for the coin in the coming days. 
If the FTX token pushes the price above the resistance level of $2.0914, the bulls will regain momentum and rise to test its upper resistance level of $2.3812. If the market successfully holds the price at that level, it will increase further and prepare to test its resistance level of $2.6409 by the week ahead. 
Negatively, if the market fails to break out, the FTX price will start trading under a bearish influence and test its support level of $1.7049. Moreover, if the bears continue holding power over the bulls, it will further fall and prepare to test its crucial support level of $1.4030.

FTX Token Faces Repeated Rejection! FTT Price On A Path To Record New Low?

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