- FTT Token price action struggles to rise above the crucial resistance zone near the $65 mark.
- The 24H volume of the token is $344M with a 70% growth.
- The pair of FTT/BTC is trading at 0.001029 BTC with an intraday move of +5.56%
The FTT Token price action struggles to rise above the resistance zone near the $65 mark. However, the recent increment in buying pressure evident by the jump in intraday trading volume proposes a bullish breakout possibility.
Pivot point analysis has shown that resistance levels for the Token are at $70, followed by $80. But, sellers could face resistance at $60 and $48 if the price faces rejection from the resistance zone.
FTT Token price is traded at $63.70; the market capitalization has risen 7.58% in the past 24 hours. In addition, intraday trading volumes increased by 70% during the last day.
Will The FTT Token Price Show Retracement Or Breakout?
The FTT token price can show a reversal as the $65 resistance coincides with the Fibonacci Level of 50%. Hence, increasing the chances of a bearish reversal. Hence, safe traders must wait for a breakout before giving into FOMO.
The FTT token price trends show a bullish trend. This is because the price trades higher than the important EMAs 20,50 100, and 200. The EMAs will protect against any fall in the token price.
The RSI indicator predicts strong underlying bullishness as the slope spikes above its central line.
MACD indicators display the MACD indicator and signal lines rising daily. Moreover, the lines maintain a bullish alignment. Hence, giving a buy signal.
Conclusion: Strong buying opportunities will arise from the breakout of the $65 resistance zone in the daily chart. However, the chances of a bearish reversal are also considerable due to the confluence of multiple supply zones.
Resistance– $80 or $70
Support– $60 and $48