FTX Token To Hit New 52-week High With A 20% Rally?
Elena R11 Dec 20242 min read
The altcoin market has displayed a significant uptrend this week. Following this, the FTX price experienced a jump of ~10% in 24 hours with a trading volume of $86.913 million.
With a strong bullish breakout, will the FTT crypto price record a new 52-week this month? In this article, we have covered the short-term price prospects of the FTX token.
FTT Price Retests Its Important Resistance Level!
Amid the ongoing bullish sentiment, the FTT price has soared over 20% in seven days. Furthermore, with a monthly return of ~60%, this altcoin has secured the 105th position with a market cap of $1.078 billion.
The EMA 50/200-day displays a Golden Cross in the FTT price chart. This suggests a strong buying-over-selling pressure for the altcoin in the cryptocurrency space.
The Relative Strength Index (RSI) records a sharp rise toward the overbought range in the 1D time frame. Moreover, its average trendline is on the verge of displaying a bullish convergence, highlighting a bullish outlook.
Will FTT Price Rise Back Again?
If the bullish sentiment intensifies, this could result in the FTX price retesting its resistance level of $3.4650. Maintaining the price above that level could set the stage for this altcoin to head toward its upper resistance trendline of $4.1625.
Conversely, if a bearish trend reversal occurs, the FTT token could drop to its support at $2.8360. If the bears gain dominance, this could result in it brushing its low of $2.20.
Curious to find out answers to questions like Will FTX token reach $5? Read CoinPedia’s FTX Token Price Prediction.
FAQs
- The circulating supply of FTX tokens is 328.89 million FTT tokens.