Market Analysis

FTX TOKEN PRICE ANALYSIS & PREDICTION (November 10) – FTT Regains Strength After Collapse, Sees Over 300% Increase In 7 Days

This week, FTT recovered from last year’s crash and jumped by over 150% in the last 24 hours, making it the market’s top gainer. It has been gaining traction on the daily with no sign of weakness at the moment.

FTT has been finding it difficult to recover loss since it crashed below a dollar last year. That led to several crypto exchanges delisting during the period, but it later got relisted on some major exchanges like Binance at an opening price of $0.973 this August.

Because of low trading volume, the crypto remained calm around that price level and entered a consolidation phase for almost three months.

However, due to the latest volatility rush in the global market, which saw many altcoins to their new yearly high, its trading volume increased and the asset started to show signs of strength this week.

It broke out of the consolidation phase yesterday and sustained momentum to a daily high of $5.53 at the time of writing.

In terms of gains, FTT has returned roughly 300% profits to investors in the last 7 days and has shown no signs of slowing down momentum at the moment.

A continuous increase in the buying volume could allow the price to double from the current daily high. Currently, it looks bullish on the daily chart with more positive actions lurking around the corner.

FTT Key Levels To Watch

Source: TradingView

Looking at the current daily chart, there’s no main level to consider as resistance on the way up. But the potential levels to watch for more increases are $6, $7 and $8. If these levels flipped quickly, $10 would be the next stop.

For pullbacks, the levels to keep in mind as a support are $4, $3 and $2 respectively. It may even drop to $1.5 if the pullback becomes broader.

Key Resistance Levels: $5.5, $7, $8

Key Support Levels: $4, $3, $2

  • Spot Price: $4.2
  • Trend: Bullish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.