- FTX Token price trading bullish above an upward trading line over the hourly chart.
- The crypto asset has successfully recovered above 20, 50, 100 and 200-days Daily Moving average.
- The pair of FTX/BTC is trading at 0.00114 BTC with an intraday gain of 5.59%, whereas the FTX/ETH pair is CMP at 0.01602 ETH with a 24-hour positive change of 4.77%.
FTX token price is strongly bullish and trading above an ascending sloping line in the hourly frame. The short term view for FTX investors goes this way, as bulls are trying way hard and determined to travel the extra miles to push the FTT coin for a bullish rally. FTT coin is strongly bullish over the hourly time frame, but bulls have to maintain this momentum throughout the intraday trading session. Investors might witness a bullish rally if they succeed in maintaining the current pace of momentum.
FTT coin is presently CMP at $50.236 and has gained 8.01% of its market capitalization in the last 24-hour period. Trading volume has significantly increased by 143.91% in the intraday trading session. The volume to market cap ratio is 0.04092. FTT bulls look determined to push their limits for the token to sustain above the $50.00 mark in the intraday trading session.
FTT coin price trading strongly bullish higher-highs above an inclining trendline formed by adjoining the higher-lows. The token has successfully recovered above 20, 50, 100 and 200-days Daily Moving Average. Bulls need to sustain FTT coin above the $50.00 mark and stay persistent. Volume change has stayed above average for the past few hours. Dominators need to maintain their dignity for the rest of the intraday trading session to sustain at the current level. However, the FTT coin’s highest and lowest hits in the last 24-hour period are $50.49 and $49.16.
Long Term View of FTT and Technical Indicators
FTT coin price has to stand rigid at the current level. It broke out of the $50.00 mark and now depends on bulls to sustain. The token is strongly bullish over the daily chart, and the long term view of the FTT coin is if it successfully sustains at the current level, then it may explode with the continuation. However, bears may try to short in between, but bulls must tighten their grip during the intraday trading session.
Technical indicators confirm the strong bullish momentum of the FTT coin over the daily chart. Stoch RSI showcases FTT coin inside the overbought territory. This means FTT must sustain at the current level. K and D stand at 100 and 98, respectively. Any directional change can be observed as soon as K and D yields a negative crossover.
MACD exhibits strong uptrend momentum of FTT coin. MACD line is ahead of signal line with no intentions of negative crossover any sooner.
Conclusion
FTT investors are looking for sustainability at the current level. However, the solidarity of FTT bulls shows their determination. Bears may try to short in between, but bulls have to maintain trading volume in their favour even if the token has to sustain in the overbought territory. Manipulative circumstances can be observed as technical indicators that signal two different stories.
Technical Levels
Support Levels: $38.00 and $32.00
Resistance Levels: $52.00 and $65.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.