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The post FTX Price Analysis: What’s The Future Of FTT Token? Is It Worth Investing? appeared first on Coinpedia Fintech News
The trials against Sam Bankman-Fried for multiple counts of conspiracy and wire fraud have begun. The prosecutor says that the US has a strong case against SBF in the courtroom.
Further, as many people closely monitor the case, the FTT Price has again started trending and has gained over 9% in value in the past week. The FTX crash had created havoc as the market had lost Billions in valuation.
The SBF’s coin was seen trading in the consolidated range for a period of time, following which the FTT price gained momentum and started trading upwards. The FTX token has been trading in an ascending trendline for over two weeks, indicating a bullpower.
The EMA 50 and 200 continue to rise, indicating the price will climb further in the coming days.
The RSI has been trading above the mid-point since the start of the month, indicating a massive buying and selling power. Further, the FTT coin has made multiple attempts to plunge below halfway but has bounced back, indicating the price will continue rising in the coming days.
Will FTX Recover This Year?
If the bulls manage to hold the price above $1.214, then the FTX price will keep trading in an ascending trendline. Further, if the market experiences a jump and the FTT token breaks out of the resistance level at $1.278, then the coin will continue to trade under the bullish influence and test the upper resistance level of $1.340.
On the other hand, if the bears gain control over the market and a trend reversal occurs, then the FTT crypto will lose its momentum, resulting in the coin experiencing a price plunge. If the FTX coin fails to hold its price above $1.214, then the price will continue to fall and test its lower resistance of $1.150.
Moreover, if Sam Bankman-Fried fails to win the trial, then the failed crypto is bound to test its lower support level of $1.025.
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