Token

FTX Token

Daily

Rise

<ul class="list-ic vertical">
 <li><span>1</span> <a>The total number of active wallet addresses of FTX token have decreased significantly, indicating a drop in the number of users.&nbsp;</a></li>
 <li><span>2</span> <a>The FTT crypto suffered rejection from the 200-Day EMA and dropped lower.&nbsp;</a></li>
</ul>
<p>The FTX Token price is extending the losses on Monday after failing to gain buyers’ trust above the 200-Day EMA yesterday. The price suffered rejection from the 200-Day EMA and dropped lower, suggesting the presence of bears near the 200-Day EMA.&nbsp;</p>
<p>Moreover, the recent session saw the domination of buyers after the price took a rebound from the previous breakout zone of $1.6 level. The FTT crypto topped out near $5.66 in mid-December and dropped lower thus entering a correction phase.&nbsp;</p>
<p>Since December, the buyers have been on the losing side as the price dropped steadily, forming lower highs. FTX token price has eroded nearly 60% from the December 2023 highs.</p>
<p>Currently, the FTT price is experiencing a correction phase and has been a sell-on-rise opportunity for short-term traders and investors. The bears have established themselves near the $3 level which is the recent swing high. The crypto may experience selling pressure until the price is maintained below the recent supply.</p> <iframe loading="lazy" title="Santiment Chart: Price (FTT), Price Volatility 1w (FTT), Volume (FTT)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bitcoin&amp;pt=BTC&amp;df=2023-09-11T18%3A29%3A59.996Z&amp;dt=2024-03-11T18%3A29%3A59.996Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bftx-token%3BFTT%5D%3B%5B1%3Bprice_volatility_1w%3Bftx-token%3BFTT%5D%3B%5B1%3Bvolume_usd%3Bftx-token%3BFTT%5D&amp;wax=0%3B1%3B2&amp;wc=%232e8743%3B%23FFCB47%3B%235275FF&amp;ws=%3B%7B%22node%22%3A%22filledLine%22%7D%3B" scrolling="no"></iframe>
<h2 class="wp-block-heading" id="strong-ftx-token-crypto-volume-drops-as-the-price-rise-strong"><strong>FTX Token Crypto Volume Drops As The Price Rise?</strong></h2>
<p>Moreover, the volume analysis shows that the FTT cryptocurrency recovered in the recent session after a sharp dip. However, the volume rise was steady and dropped as the FTX token price neared the previous supply zone.</p>
<p>It suggests the losing interest of the buyers which adds confirmation to the completion of a pullback and the FTT crypto may drop further. Also, the volatility was increasing with the price, suggesting the price is unstable to sustain at the higher levels.</p>
<h2 class="wp-block-heading" id="strong-is-ftt-crypto-losing-users-significant-fall-in-active-wallets-strong"><strong>Is FTT Crypto Losing Users: Significant Fall In Active Wallets?</strong></h2> <iframe loading="lazy" title="Santiment Chart: Active Addresses 7d (FTT), Active Addresses 30d (FTT), Daily Active Addresses (FTT)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bitcoin&amp;pt=BTC&amp;df=2023-09-11T18%3A29%3A59.996Z&amp;dt=2024-03-11T18%3A29%3A59.996Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bactive_addresses_7d%3Bftx-token%3BFTT%5D%3B%5B1%3Bactive_addresses_30d%3Bftx-token%3BFTT%5D%3B%5B1%3Bdaily_active_addresses%3Bftx-token%3BFTT%5D&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%3B%3B" scrolling="no"></iframe>
<p>The Active wallets show numbers of wallets currently participating in the transaction off FTX token. The above chart displays the status of the active wallets in different timeframes.</p>
<p>There has been a steady drop in the active wallets since December 2023 when the FTX token price started to fall. The trajectory is still downwards, indicating the continuation of the correction phase.</p>
<h2 class="wp-block-heading" id="strong-on-chain-the-transaction-volume-ratio-of-daily-profit-to-loss-strong"><strong>On Chain: The transaction volume ratio of daily Profit to Loss</strong></h2> <iframe loading="lazy" title="Santiment Chart: Daily On-Chain Transaction Volume in Profit (FTT), Daily On-Chain Transaction Volume in Loss (FTT), The Ratio of Daily On-Chain Transaction Volume in Profit to Loss (FTT)" width="100%" height="300" src="https://embed.santiment.net/chart?ps=bitcoin&amp;pt=BTC&amp;df=2023-09-11T18%3A29%3A59.996Z&amp;dt=2024-03-11T18%3A29%3A59.996Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Btransaction_volume_in_profit%3Bftx-token%3BFTT%5D%3B%5B1%3Btransaction_volume_in_loss%3Bftx-token%3BFTT%5D%3B%5B1%3Btransaction_volume_profit_loss_ratio%3Bftx-token%3BFTT%5D&amp;wax=0%3B1%3B2&amp;wc=%232a6a2a%3B%23FFCB47%3B%235275FF&amp;ws=%3B%3B" scrolling="no"></iframe>
<p>Daily on-chain transaction volume in profit, daily on-chain transaction volume in loss, and the ratio of on-chain volume in profit to loss are metrics that measure the amount and proportion of FTT tokens that are moved on the blockchain and are either in profit or in loss, based on their acquisition cost.</p>
<p>As per the most recent data obtained from the sources:</p>
<ul>
 <li>Daily On-chain transaction volume in profit (FTT) is: 98k</li>
 <li>Daily On-chain transaction volume in loss (FTT) is: 279K</li>
 <li>The ratio of daily on-chain transaction volume in profit to loss is 0.351 which is less than 1.</li>
</ul>
<p>These metrics can highlight the following aspects of the token:</p>
<p>Since the volume in loss is high and the ratio is below 1, it means that most holders are in a negative position. Also, it also highlights related to its supply dynamics and price pressure on FTT that there is a large amount of FTT token that is locked or illiquid, creating upward pressure on the price.</p>
<p>Likewise, it also exhibits the trend and momentum of FTT, that the volume in loss is increasing and increasing and the ratio is falling, which means that FTT token is in a downtrend and losing momentum, as more holders are becoming unprofitable.</p>
<h2 class="wp-block-heading" id="strong-ftx-token-sentiment-analysis-strong"><strong>FTX Token Sentiment Analysis</strong></h2> <iframe loading="lazy" title="Santiment Chart: Positive sentiment (Total) (FTT), Negative sentiment (Total) (FTT), Weighted sentiment (Total) (FTT)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bitcoin&amp;pt=BTC&amp;df=2023-09-11T18%3A29%3A59.996Z&amp;dt=2024-03-11T18%3A29%3A59.996Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_positive_total%3Bftx-token%3BFTT%5D%3B%5B1%3Bsentiment_negative_total%3Bftx-token%3BFTT%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bftx-token%3BFTT%5D&amp;wax=0%3B1%3B2&amp;wc=%233e731d%3B%23ec5f3c%3B%235275FF&amp;ws=%7B%22node%22%3A%22bar%22%7D%3B%3B" scrolling="no"></iframe>
<p>The above chart mentions the positive, negative and weighted total sentiment of the FTT crypto over a period of time. The chart highlights that the bearish sentiment has been leading the trend in the last couple of months.&nbsp;</p>
<p>However, the last couple of weeks saw frequent change in the sentiments from negative to positive indicating the ongoing volatility in the FTX as a tough fight is going on between the buyers and the sellers.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-ftx-token-price-prediction-march-2024-strong"><strong>FTX Token Price Prediction March 2024</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="472" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237-1024x472.png" alt="FTX Token" class="wp-image-196499" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237-1024x472.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237-300x138.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237-768x354.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237-1536x708.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237-750x345.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237-1140x525.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-237.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p>Recently, the FTX crypto could not sustain above the 200-Day EMA and suffered rejection indicating the presence of sellers at higher levels. The short-term trend outlook is bearish which may create a sell-on-rise opportunity until the price trades below the recent supply.</p>
<p>The price prediction for March 2024 shows that the FTT price may exhibit a bearish outlook and continue to lose until it stays below the $3 supply level. The short-term traders and investors may expect lower swings as the possible targets if the price drops.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>The<a href="https://www.thecoinrepublic.com/2024/01/18/ftx-token-price-pauses-momentum-whats-next-for-the-crypto/" target="_blank" rel="noopener noreferrer nofollow"> FTX token crypto</a> has been in a short-term correction phase after falling from a high of $5.6 level mid-December. The price dropped lower, breaking below the 20, 50 and 200-Day EMAs. The recent sessions saw some recovery, however, the volume inflow did not support the price recovery indicating a short-term pullback. It might be a sell-on-rise opportunity for short-term traders and investors as the crypto suffered rejection from the 200-Day EMA.</p>
<p>The number of active wallets is on a steady decline indicating the continuation of the correction. Moreover, the sentiments are changing frequently indicating volatility in the market.</p>
<h4 class="wp-block-heading"><strong>Technical levels</strong></h4>
<ul>
 <li>Support Levels: $1.65 and $1.08</li>
 <li>Resistance Levels: $2.54 and $3.16.</li>
</ul>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

FTX Token Price Recovers: Is FTT A Sell On Rise Opportunity?

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