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- 1 FTX crypto price is down nearly 2.18% intraday and currently trades at $2.9.
- 2 FTT/USD chart technical outlook shows that the price is stuck between the 50-Day EMA on the upper side and 200-Day EMA on the lower side.
FTX token price is trading in red for the second consecutive session. The price movement has been a mixed bag this week. The earlier two sessions recorded a green candlestick formation, however, the latter two sessions experienced a red candlestick formation.
Moreover, the price drop in the last couple of sessions has snapped the weekly gains. The FFT crypto price has slumped below the week’s low. Currently the crypto price hovers near the lower range and might retrace 200-Day EMA at $2.75 if it drops further.
At the time of writing, FTX token price was at $2.91 with an intraday drop of 2.18%. It has a total market cap of 960.06 Million and ranks 69th as per market capitalization. It has a 24 hour trading volume of 28.89 Million with a 10.59% drop as compared to yesterday.
FTX Token Price Technical Analysis
The FTX token price seems bullish on the higher timeframe however, correcting in the short term. The price followed an upward trajectory and kept edging higher since mid December 2023 and peaked near the psychological level of $6.
Since then, the price has been unable to surpass the recent high and has been drawing lower, forming bearish price action and correcting.
Moreover, the correction might come to an end soon as the bulls seem to be defending the lows near the 200-Day EMA on the daily chart. Also, some strong candles were observed in the recent sessions suggesting potential on the higher side.
The technical indicators also support the bullish scenario, as the RSI is showing a positive divergence on the chart. MACD is about to form a bullish cross, and the ADX is declining, indicating a loss of bearish momentum.
However, FTT/USD still faces some downside risks, as the price is below the 50-Day moving average and the price is lacking volume support.
Now if the price breaks above the 50-Day EMA, it may trigger a positive sentiment in the short term which may attract more buying volume to take the price to the upper levels of $4.5 and $5.5.
FTX Token Price Prediction January 2024
The most optimistic view of analysts assumes the price may attain a high of $3.47 by the end of January 2024. However, the pessimistic view of analysts hopes the price could drop near $2.14 if the recent support breaks down.
FTX Token Price Prediction 2024
The price Forecast for the year 2024 is that the FTT token price could reach a high of $4.93 suggesting a potential gain of over 70%. Moreover, the bearish outlook of the analysts hopes the price could reach $3.93 by the year-end.
FTX Token Price Prediction 2025
By the year 2025, the FTX token price may attain $6.26 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $5.29.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
