FTX Token Price Prediction: FTT Pumps 17.5% As Traders Rush To Buy This Bitcoin ETF Play With Only Hours Before A Price Hike

ByEvans Karanja

Updated: 13 December 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The FTX token price soared 17.5% in the last 24 hours to trade at $5.51 as of 07:49 a.m. EST as trading volume climbed 35% to $222 million.

The FTX Token Price: Bulls Poised To Break The Ascending Triangle

FTX Token Price Chart Analysis. Source. Tradingview.com — FTTUSD Chart Analysis. Source. Tradingview.com

FTT price has established a resilient support level at $1.05, showcasing a strong foundation for price stability.

Subsequently, there was an upward surge, leading to a new peak at $6.05, giving rise to the formation of an ascending triangle pattern over the weeks, signaling a continuation of the bullish trend.

However, the upper boundary of the triangle has proven to be a robust resistance point, prompting a correction in the price. Despite this correction, the bulls have shown resilience, establishing a solid base for potential future gains above the triangle.

The Relative Strength Index (RSI) indicates a sideways trend with a minor rebound and is currently trading at 65. Although the RSI suggests a neutral position, it remains bullish, underscoring the presence of intense buying pressure. Should the bullish momentum persist, there is a possibility that the RSI could enter overbought territory.

The price is currently trading above both the 50-day and 200-day Simple Moving Averages (SMAs). This alignment confirms the prevailing bullish momentum for the FTX token price. The bullish crossover of these key SMAs further reinforces the positive sentiment, indicating a sustained uptrend.

The FTX token Price: Bulls Aim For $7.9 Above Ascending Triangle

There is potential for the price to surpass the $6.05 level, ultimately allowing the bulls to target a $7.90 high if the bullish momentum sustains.

Bears may seek to push the price back to the $3.15 support level in an attempt to correct prices.

A breach of this support level could prompt bulls to look for a safe haven around $2.10.

Investors may also want to consider the BTCETF token, which has gained significant momentum and offers a compelling alternative to FTT.

BTCETF Token: Buy Fast, Just 6 Hours To Price Hike

The BTCETF Token has raised $3.7 million in funding and is rapidly approaching its $3.86 million target. BTCETF tokens are offered at a reduced rate of $0.0066 but will increase in price in just six hours.

Only 24 hours left for Stage 9 of #BitcoinETF! ⏳ Keep watching! pic.twitter.com/dePQZC7oKm

— BTCETF_Token (@BTCETF_Token) December 13, 2023

You can buy and hold BTCETF tokens for an opportunity to engage with the platform’s staking feature, securing an impressive annual percentage yield (APY) of 72%.

This attractive staking feature has drawn the attention of numerous investors seeking passive income, especially as they anticipate a potential increase in the token’s value upon the approval of spot Bitcoin ETFs.

YouTuber and cryptocurrency analyst Jacob Bury provides insights into the token’s potential, highlighting that the widespread anticipation of approval of spot Bitcoin ETFs is generating substantial excitement and propelling the BTCETF’s price with the potential for a 10x increase.

To purchase BTCETF tokens, visit the official Bitcoin ETF website, connect your Web3 wallet, and exchange ETH or USDT for BTCETF tokens. Alternatively, you can directly acquire the tokens using your bank card.