•FTX/USD is currently priced at $40.28 and has increased by 2.51% over the past day
•The trading volumes have decreased by 32.69% over the past day
•The technical indicators suggest a bearish outlook for the near term
Short Term View: FTX Crypto price takes an intriguing turn of events
The FTX price today is $40.28 USD with a 24-hour trading volume of $83,423,643 USD. FTX Crypto is up 2.51% in the last 24 hours. The trading volumes have decreased over the past day, with the altcoin struggling to attract buyers at the current price levels. The Volume to Market Cap Ratio stands at 0.01513 for the altcoin.
The FTX Crypto price is currently below the 20,50 simple moving average, which is a worrying sign, but as long as the price is above the trend line a move up cannot be discarded. If the bears are able to absorb the recent surge and push the prices towards the resistance placed at $39, a downtrend would ensue that could bring the surge to a halt. On the other hand, if the bulls are able to sustain pressure and push the prices beyond the resistance placed at $42.50, it will signal the beginning of an uptrend. The upcoming price action in the days ahead will tell us about the future course of the coin.
Long Term View for FTX
The technical indicators for FTX Crypto suggest the market sentiment is currently favoring the bears as the RSI is transacting at 39.21, with the metric continuing to head towards the oversold territory. In the short term, the MACD and signal lines are hovering at the lower levels while the selling pressure keeps on mounting. The bears are looking to take control in the short term as the gap is widening between the MACD and signal line on the daily chart, with the red Histograms gaining traction as well.
Conclusion
Despite a slight upturn witnessed in fortunes, turning the resistance at $42.50 into support is essential if FTX Crypto is to move higher from here. Currently, the FTX price remains stuck in a flat trend.
Support: $39
Resistance: $42.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/04/29/ftx-price-analysis-price-actions-leave-ftx-nursing-its-wounds/