FTT Technical Analysis: Post-Breakout Bull Run Soon to Surpass $50

FTT coin price action shows a bullish rally approaching the $50 mark after the wedge pattern breakout. Will it surpass selling pressure at $50? FTT is the cryptocurrency token used by the platform used for trading in cryptocurrency derivatives, FTX. FTX is operated by Almeda Research, which is recognized as among the top reliable companies in crypto trading, as well as one of the biggest liquidity providers. Sam Bankman-Fried is co-founder chief executive officer and co-founder of The FTX Cryptocurrency Derivatives Exchange. He is also Chief Executive Officer at Almeda Research and worked as director of development at the Center for Effective Altruism. Let us move ahead to read about FTX Token technical analysis. Past Performance of FTT FTT coin price action manages to continue the bull run after the bullish breakout of the falling wedge pattern in the daily chart. Moreover, the rally surpasses the horizontal level at $44 and retests to regain the bullish momentum. The coin price has increased by more than 20% past its breakout point, mentioned in our previous article. Currently, the uptrend approaches the psychological resistance at $50. FTT/USD Daily Chart FTT Technical Analysis The recent jump of almost 10% from the $44 support level in the FTT coin price brings it closer to the psychological resistance of $50. However, the increased trend momentum after the retest and evident lower price rejection in the price action indic...