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FTX Token Price Flattens: Is FTX Gearing Up for a Bullish Rally?

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FTX Token Price Flattens: Is FTX Gearing Up for a Bullish Rally?
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The FTX token price holds steady near the 200 day EMA and delivers a slightly positive outlook in the intraday session.  Moreover, the volume received has been low in the recent sessions due to which weak and indecisive candles are being formed. 

The short-term trend outlook shows that the price is hovering back and forth, delivering a sideways outlook at the moment. The price has been hovering in a range-bound zone for the past four weeks, unable to find a clear direction.

The breakout or breakdown of the range may decide the next clear trend in the short-term.  The FTX token has a live market capitalization of $898.07 Million and ranks 72nd among all the cryptocurrencies. It had a 24-hour trading volume of $15.004 Million with an intraday drop of 37.68%.  

FTX Token Price Flattens: Is FTX Gearing Up for a Bullish Rally?

FTX Token Trend Analysis

The broader term outlook demonstrates a positive outlook despite the price drop in the recent sessions. The FTX crypto price currently hovers above the 200 day EMA and has reached the previous breakout zone from where it might gain the buyers’ support. 

On the upper side, the $3 level has been acting as a supply zone and halting further momentum. The buyers have established themselves near the $2.5 level and are preventing the price from falling lower.

As per the indicator analysis, the FTX token price is stuck between the 50 day and 200 day EMAs, suggesting an indecisive trend. The MACD and signal lines are below the zero line and have made a bearish crossover, highlighting weakness over the charts. 

At the time of writing, the RSI was at 44.58 points, and the 14-day SMA line was at 43.27. Both the RSI and 14-day SMA line are below the median line, suggesting a bearish sentiment in the short-term. 

FTX Token Price Prediction for January 2024

FTX Token Price Flattens: Is FTX Gearing Up for a Bullish Rally?
Source: FTT/USDT by TradingView

The positive view of analysts predicts an upside potential of over 12.30% in January 2024, which could take the FTX token price above the $3.036 mark. On the other hand, the bearish view of analysts predicts that the price could drop to the $2.455 level.

FTX Token Price Prediction for 2024

The price prediction for 2024 shows that the FTX token may advance to a high of $5.068 by the end of 2024. The less optimistic analysts estimate a price target of $3.922 by the end of the year.

FTX Token Price Prediction for 2025

As per the most positive view of our analysts, the price may hit the $6.89 mark, suggesting an upside potential of 137.28% by 2025. The pessimistic view is that the price could reach $5.25 by the end of the financial year 2025.

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. 

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