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FTX Token Price Prediction for Today, November 5: FTT/USD Bears Market

FTX Token Price Prediction for Today, November 5: FTT/USD Bears Market
FTX Token Price Prediction for Today, November 5: FTT/USD Bears Market

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FTX Token Price Prediction for Today, November 5: FTT/USD Bears Market

On October 21, the bulls market took its support price at $22.000. The price of FTX Token progresses daily. The price action easily breaks the $23.000 price level. But as most of the traders are targeting the $26.000 as the place they would take their profit, the price was rejected at around that price. So from October 31, The market begins going the bearish way.

FTX Token Market Price Statistic:

  • FTT/USD price now: $18.123
  •  FTT/USD market cap: $1,983,417,325
  •  FTT/USD circulating supply: 133,025,776.24
  •  FTT/USD total supply: 328,895,112
  •  FTT/USD coin market ranking: #30

Key Levels

  • Resistance: $19.000, $20.000, $21.000
  • Support: $17.000, $16.500, $16.000

FTX Token Market Price Analysis: The Indicators’ Point of View

The downtrend starts on October 31 and is characterized by strong bearish candlestick patterns. The lower band of the Bollinger indicator responds to the fast-moving market as it moves by price. The upper band of the indicator is also moving upward. This means that the volatility of the market is increasing. The overly high selling pressure has sent the market into the oversold territory. The RSI line measures 25. This is in the oversold zone. It is expected that the price of the token will correct back to an upward level.

FTX Token Price Prediction for Today, November 5: FTT/USD Bears Market

FTT/USD 4-Hour Chart Outlook

From this point of view, we discover that today starts with a massive selling, but towards the end of the first 4-hour session, traders begin to buy again. Bulls are strong at the $17.000 price level and with strong support at this level, the downtrend may reverse.

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