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The FTX Token price prediction is approaching a crucial support level that could take the digital asset to the downside of the channel.
FTX Token Prediction Statistics Data:
FTT price now – $2.70
FTT market cap – $345 million
FTT circulating supply – 133 million
FTT total supply – 328 million
FTT Coinmarketcap ranking – #76
FTT/USD Market
Key Levels:
Resistance levels: $10, $15, $20
Support levels: $2.5, $2.4, $2.2
As the daily chart reveals, FTT/USD is currently trading down by 50.81% at its current price of $2.70, which marks a notable decline from its daily high of $6.46 that was set today when the bulls attempted a slightly positive move. In the past few hours, the FTX Token price has been able to find some support around the $2.62 level.
FTX Token Price Prediction: FTX Token Price May Range-bounds
After trading above the resistance level of $24 yesterday, the FTX Token price later faced the downside. Therefore, many traders were expecting the coin to resume uptrends but the 9-day moving average stays below the 21-day moving average as the technical indicator remains within the oversold region.
However, a bearish drop below the lower boundary of the channel may roll the market down to the support level of $2.25, $2.05, and $1.85 while a possible bullish surge could drive the market above the channel to hit the nearest resistance levels of $10, $15, and $20 which could further provide bullish signals for the market. Meanwhile, the Relative Strength Index (14) is on the negative side, and staying there may cause the coin to touch the $2.0 support level.
Against Bitcoin, the FTX Token price is currently trading below the 9-day and 21-day moving averages. As it is, FTT/BTC is currently trading at 1584 SAT and the bulls couldn’t push the price above the daily high of 3488 SAT. However, if the market drop below the lower boundary of the channel, the next key support may likely be at 1300 SAT and below.
On the upside, a bullish movement could push the market towards the 9-day and 21-day moving averages to visit the resistance level of 8000 SAT and above. Similarly, the Relative Strength Index (14) is moving within the oversold region, suggesting that the market may face bearish movement.
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