The volumetric decline of FTX Token (FTT), which rose sharply with the news about FTX’s relaunch, attracted attention.
FTT, which increased by more than 350 percent in total, from $ 1.20 to $ 5.52 in a very short time, entered a major downward trend. The stock market token, which pushed the critical resistance level several times, retreated sharply when it could not find the support it was looking for from both technical and fundamental analysis. Additionally, FTT topped the “Top Losers” list with a 14.83 percent loss in value in the last 24 hours.
It may face bigger declines!
The fact that BTC could not exceed $ 38,000 and retreated to the $ 35,500 band naturally shook the altcoins. Especially the withdrawal percentage of coins that rose very sharply was higher. FTT was at the top of these coins. The stock market token, which has lost value since it hit $ 4, is currently traded at $ 3.1499.
If there are positive developments regarding FTX 2.0 or BTC targets $ 38,000 again, an increase in FTT can be expected. In such a scenario, the points that can be followed as resistance are 3.3996 – 3.6921 – 4.0036 – 4.2395 and 4.8374 dollars, respectively.
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