FTX Exchange To Make A Comeback As FTT Price Eyes $5 This AltSeason?

The post FTX Exchange To Make A Comeback As FTT Price Eyes $5 This AltSeason? appeared first on Coinpedia Fintech News

The bearish action in the crypto market has led to top projects such as Bitcoin, Ethereum, and others losing momentum. However, FTX has been one cryptocurrency that has gained significant pace within a short period. Further, with a jump of ~30%, it has secured the position of top gainer among the top 100.

Additionally, with the creditor’s repayment plan and auctioning of Worldcoin tokens, investors are curious about the upcoming plan of the FTX exchange. Moreover with this, queries like “Will FTX price rise again?” and “How high will FTT price go?” have gained huge search volume.

FTT Crypto Achieves 7-month High!

By defying all the odds, the FTX token has continued gaining momentum by adding ~28% to its portfolio in the past day with a trading volume of $86.32 million. Moreover, it has jumped 79.33% over the past week, resulting in it achieving the high of March.

TradingView: FTT/USDT

Moreover, the FTT price has jumped ~95% over the past 30 days. This highlights an increase in the bullish sentiment. With a market capitalization of $860.023 million, it has secured the 83rd position in the global cryptocurrency list.

FTX Technical Analysis

The SMA indicator supports the FTT crypto price chart in the 1D time frame. This indicates an increase in the buying-over-selling pressure for the altcoin in the market.

The Relative Strength Index (RSI) continues hovering close to its overbought range. Further, the average trendline supports the price trend. This suggests that the FTX token will continue gaining value in the coming time.

Will FTT Price Rise Again?

Suppose, the bullish sentiment intensifies, in that case, the FTX crypto will prepare to test its resistance level of $2.65 in the coming time. Maintaining the price above that level could set the stage for this crypto to head toward its upper high of $3.25 this month.

On the flip side, if a bearish reversal occurs, the price could retest its support level of $2.10. Moreover, if the bears overpowered the bulls, under such a situation, the FTT coin price could plunge toward its lower support level of $1.58.

Wondering how far could FTX price reach by the end of 2024? Read our FTX Price Prediction for insights!