FTT Technical Analysis: Death Cross Opposes New Buyers

With a sharp reversal from the support level of $30, FTT buyers regain the trend control and aim to reach the next psychological mark of $40. Key technical points: The FTT price sustains above $30. The MACD indicator shows a bullish crossover. The 24-hour trading volume of FTX Token is $176 Million, indicating a 30% rise. Past Performance of FTT FTT prices show a sharp V-shaped recovery from the $30 level after a 23% downfall, starting with the rejection at $40 and the 50 EMA. The bullish recovery regains 12% overnight with a boom in trading volume but faces opposition at $35. The resistance starts a short retracement with decreased volume representing buyers resisting a downfall. Source-Tradingview FTT Technical Analysis FTT prices showcase lower price rejection within the bearish retracement. Thus, increasing the chances of a bullish recovery crossing above the $35 mark. This will highlight a breakout entry opportunity for traders with a target of $40. The EMAs maintain a bearish alignment in the 4-hour chart and maintains a falling trend reflecting a solid underlying bearishness. The RSI slope shows a sharp recovery from the oversold zone but faces opposition from the halfway mark. Thus, resulting in a retracement to the 14-day SMA. The MACD indicator displays the bullish crossover as the fast and slow lines restart the uptrend to approach the zero line. Moreover, the bullish histograms gain trend momentum reflecting a surg...