FTX Price Prediction: FTT Facing the Consequences still in harsh Phase, Lower than Ever Expected!

FTX is still falling after a little buying over the daily price chart.
FTX price action has fallen below 20, 50, 100 and 200-days Daily Moving Average.
The pair of FTX/BTC is at 0.0001624 BTC with an intraday drop of 21.80%.

To save the FTX’s cryptocurrency token FTT, FTT crypto has to calm down by outlining a strategy. One interpretation of the panic selling is that the FTT token entered a crypto slaughter. To avoid falling sharply, FTT crypto needs to find a strategy to be saved and support from buyers or bulls. A reduction in the token’s price from the previous four sessions is predicted by the FTX price prediction. Due to the cryptocurrency’s extreme volatility, the FTT token experiences some difficult selloffs during the intraday trading session.

The FTT token is presently valued at $2.73, according to the FTX price prediction, and it has lost about 24.21% of its market capitalization over the past 24 hours. The intraday trading session saw a 40.61% decline in trade volume. This shows that in order to maintain its present level and stop the trend, the price of FTT currency needs to attract more buyers.

As it declines slightly, FTX’s cryptocurrency FTT token needs to attract purchasers. It will take some time to see whether purchasers will be able to throttle the token or if FTT will continue to experience selling pressure during intraday trade. In the meantime, volume change in sellers’ favour is well over average. The token, however, is now below the 20, 50, 100, and 200-day Daily Moving Averages. To stop its fall, FTT token needs to draw buyers.

FTT Still Inside the Extreme Oversold Territory!

As word of Binance’s decision to sell all of its FTT holdings spread around the cryptocurrency community, the price of the FTT token has been tumbling with a strong downtrend momentum. Technical indicators on the daily price chart of the FTT coin indicate a significant decline in momentum.

The FTT coin’s momentum in the downturn is displayed by the Relative Strength Index. At 14, the RSI is approaching extremely oversold territory. The FTT token’s decline momentum is visible on MACD. After a negative crossover, the MACD line is lower than the signal line.

Conclusion

To save the FTX’s cryptocurrency token FTT, FTT crypto has to calm down by outlining a strategy. One interpretation of the panic selling is that the FTT token entered a crypto slaughter. To avoid falling sharply, FTT crypto needs to find a strategy to be saved and support from buyers or bulls. In the meantime, volume change in sellers’ favour is well over average. The token, however, is now below the 20, 50, 100, and 200-day Daily Moving Averages. To stop its fall, FTT token needs to draw buyers. Technical indicators on the daily price chart of the FTT coin indicate a significant decline in momentum.

Technical Levels

Support Level: $2.00 and $1.50

Resistance Level $6.50 and $10.00

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.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing