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- FTX plummets around 25% in the last 24-hour period of trading to know what could possibly go wrong with FTT token and Binance move ahead.
- Binance Holdings Ltd. announced to withdraw, FTX’s cryptocurrency, FTT token.
- FTT coin price is going through some hard times as the market has raised some concerns regarding FTX’s liquidity.
Sam Bankman Fried’s cryptocurrency exchange FTX has witnessed an enormous amount of withdrawals in the last four consecutive trading sessions. FTT crypto needs to settle down by providing a plan of action to save the FTX’s crypto token FTT. The panic selling can be seen as FTT token went into a crypto bloodbath. FTT crypto must look for a plan to be saved and needs to gain support from the buyers or bulls to avoid falling significantly. FTX price prediction suggests the token’s fall from the last four consecutive sessions. Due to the highly volatile nature of the cryptocurrency FTT token faces some hard times in selloffs during the intraday trading session.
According to the FTX price prediction, FTT token is currently estimated at $17.19 and the token has lost around 25% of its market capitalization in the last 24-hour period. However, volume change signifies that buyers are trying to save the token from falling more as buyers have entered in the trade by 87.81% during the intraday trading session. This demonstrates that FTT coin price needs to accumulate more buyers in order to sustain at the current level and reverse the trend.
FTX’s cryptocurrency FTT token needs to accumulate buyers as it slumps marginally lower. It’s a matter of time to see if buyers could provide the throttle to the token or FTT kept on facing the selling pressure during the intraday trading session. Meanwhile, volume change can be seen way ahead of average in favor of sellers. However, the token has slipped below 20, 50, 100 and 200-days Daily Moving Average. FTT token needs to attract buyers to save from the falling.
FTT Heading Straight Inside the Extreme Oversold Territory!
FTT token price has been falling with strong downtrend momentum as the news from Binance to sell all its FTT holding spread all over the cryptocurrency world. Meanwhile, technical indicators suggest the strong downtrend momentum of FTT coin over the daily price chart.
Relative Strength Index showcases the downtrend momentum of FTT coin. RSI is at 23 and is heading towards the xtreme oversold territory. MACD exhibits the downtrend momentum of FTT token. The MACD line is below the signal line after a negative crossover.
Conclusion
Sam Bankman Fried’s cryptocurrency exchange FTX has witnessed an enormous amount of withdrawals in the last four consecutive trading sessions. FTT crypto needs to settle down by providing a plan of action to save the FTX’s crypto token FTT. The panic selling can be seen as FTT token went into a crypto bloodbath. However, the token has slipped below 20, 50, 100 and 200-days Daily Moving Average. FTT token needs to attract buyers to save from the falling. Meanwhile, technical indicators suggest the strong downtrend momentum of FTT coin over the daily price chart. The MACD line is below the signal line after a negative crossover.
Technical Levels
Support Level: $15.00 and $13.00
Resistance Level $22.00 and $25.00
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
