Fueled by the developments regarding FTX, FTX Token (FTT) has surpassed the entire altcoin market and reached the top.
FTT, which caught an upward trend with the relaunch of FTX 2.0, left its mark on the market with its increase in the last 24 hours. Despite the interim corrections in BTC, it took the first place in the “Top Rising” list with its increase of 21.54 percent.
Approaching an important resistance area again, can FTT break this level and set sail for new rises? How are things progressing on the technical side?
There may be a move towards the $5 band!
Exploding from $ 3.4987 to $ 4.4382 in a very short time, FTT showed a total performance of 26.85 percent. FTX’s native token, which is traded at $ 4.1202 as of the writing of the news, will want to test higher levels in case of good news from the stock market or if BTC advances to $ 40,000. In such a scenario, it can target $4.4901 – 4.8237 – 5.2201 and $5.5323 respectively.
Factors such as negative news about FTX hitting the market or BTC retreating to $ 35,000 will trigger an increase in sell-side transactions. In such a case, the levels where relaxation can be expected are 4.0036 – 3.6833 – 3.996 and 3.1543 dollars, respectively. In particular, maintaining $3.1543 as support will be decisive in the short-medium term price structure.
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