Token

FTX Token

The post <a href="https://coinpedia.org/price-analysis/trapped-ftt-price-eyes-50-jump-is-breakout-imminent/">Trapped FTT Price Eyes 50% Jump, Is Breakout Imminent?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Making it to headlines, the FTT price recovery rally is quickly gaining traction amongst the altcoins and eyes a new breakout rally. Despite being infamous in the market, the FTX token is sustaining a short-term uptrend in the price chart.&nbsp; 
Further, the bullish pattern formation in the 4H chart teases an uptrend continuation for the FTT price. Providing entry points for traders with the precision of sharpshooters, should you consider buying FTX Token before 2023 ends? 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/11/29142141/FTTUSD_2023-11-29_13-55-43-1024x481.png" alt="" class="wp-image-249695" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/29142141/FTTUSD_2023-11-29_13-55-43-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/29142141/FTTUSD_2023-11-29_13-55-43-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/29142141/FTTUSD_2023-11-29_13-55-43-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/29142141/FTTUSD_2023-11-29_13-55-43-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/29142141/FTTUSD_2023-11-29_13-55-43-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/29142141/FTTUSD_2023-11-29_13-55-43.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/Zgy4UHbk/">Tradingview</a> 
Making a recovery of 283% between November 8th to November 11th, the FTT price reclaims the $4.5 mark. However, the overhead supply zone at $4.67-$4.70 brings excessive inflow pressure to pipe down the recovery phase.&nbsp; 
Entering a cool-off phase, the altcoin moves on a lateral trend to form a triangle pattern with the overhead resistance at $4.70. The ongoing positive cycle within the triangle pattern teases a high breakout possibility.&nbsp; 
Currently, the FTT price trades at $4.07 following last night’s jump of 12.94%, the buyers are preparing to take back the trend control. Considering the buyers manage to sustain the pressure, the breakout possibility will increase significantly.&nbsp; 
Technical indicators: 
RSI: The declining trend in the RSI line bounces back in the 4H chart as it crosses above the 14-day SMA. Further, the uptrend approaches the overbought boundary with no visible divergences.&nbsp; 
EMA: The golden crossover event in the daily chart puts the 50D and 200D EMA back into positive alignment. Further, the uptrending average lines may soon provide dynamic support to any minor corrections.&nbsp; 
<h2 class="wp-block-heading" id="h-will-ftt-price-reach-2">Will FTT Price Reach $2?</h2> 
The overall FTT price action reflects a high possibility of a triangle breakout rally ready to push the market price significantly higher. Moreover, the breakout rally shows the potential to cross above the $6 mark. Considering the uptrend sustains momentum, the FTX token price can reach the $6.30 mark. 
On the flip side, a reversal under $3.59 will result in a downtrend to $2.76.

Trapped FTT Price Eyes 50% Jump, Is Breakout Imminent?

목차

CoinPedia News

2023년 11월 29일에 게재된 다른 기사

IOTA’s $100 Million DLT ADGM Foundation: Catalyzing Blockchain Growth in the Middle East

New Bitcoin mining pool ‘Ocean’ makes waves with Jack Dorsey’s $6.2M investmen

Ethereum whales may trigger ETH rally, Celestia and Meme Moguls uptrend remain

Retail CBDCs Can Be Private: BIS Innovation Hub

Terra Luna Classic Price Forecast: LUNC Skyrockets 26%, Is This A Pump and Dump Affair?

Workday’s Shares Up 9% After Q3 Earnings Beat, Optimistic Forecast

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!