FTX Price Breaks Out Of Its Key Level! FTT Price Eyes 15% Jump Soon?

The post FTX Price Breaks Out Of Its Key Level! FTT Price Eyes 15% Jump Soon? appeared first on Coinpedia Fintech News

The crypto industry continues to display massive volatility in its valuation, indicating ongoing buying and selling pressure in the market. Further, the FTX token after trading sideways for a brief period has displayed a significant jump, indicating an increased bull power in the space.

The FTT price traded in a consolidated range between $3.455 and $4.039 for a while, following which the bulls lost momentum, resulting in a price breakdown. However, the Bulls quickly regained power and pushed the price within the consolidated range.

TradingView: FTT/USDT

After this, the price traded sideways for a while. The FTX token made multiple attempts to break out, but the bulls lost power resulting in the coin recording a correction of over 28% in its valuation.

Following this, the price displayed significant volatility in its charts and the token constantly lost momentum, resulting in a breakdown. After this, the price traded in a closed space between $2.6578 and $2.8934 for a while, following which it experienced another correction of roughly 5% in valuation.

Recently, the bulls regained momentum and jumped over 11%, indicating a bullish sentiment in the market.

Will FTX Price Rise High?

The Moving Average Convergence Divergence (MACD) displays a rising green histogram, indicating an increased buying pressure in the market. Further, the averages show a constant rise, suggesting the price will continue gaining value in the coming time.

If the bulls push the price above the resistance level of $3.1399, the FTT price will regain momentum and prepare to test its upper resistance level of $3.455 soon. Maintaining the price at that level will set the stage for the FTX token to attempt to test its resistance level of $3.746 over the weekend.

Conversely, if a trend reversal occurs, the price will lose momentum and fall to test its support level of $2.8934. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $2.6578 in the coming days.