FTT, the native token of the FTX crypto trade is seeing a steady rise in demand in opposition to the Dollar and restoration from a decline in opposition to Bitcoin BTC. On this publish, we analyze the FTT paired in opposition to the primary crypto-asset Bitcoin, and the USDT.
We’ll determine the numerous help, resistance ranges and determine chart patterns that recommend development reversal and continuation on each the FTTBTC and FTTUSDT.
Let’s dive into it.
FTT Worth Evaluation: FTTBTC Day by day Chart
The FTTBTC chart above exhibits a 50% worth hunch following a bull-trap candlestick sample on 09 September ’21. Bearish momentum discovered a worth ground at 0.000814 following a daily bullish divergence sample on 19 October ’21 with RSI values piercing above level-75 for the primary time because the worth hunch.
We anticipate a bullish marketing campaign to kick-off from right here contemplating that the weekly timeframe of the FTTBTC additionally maintains a robust bullish outlook with the RSI printing greater figures above level-25 since 11 January ’21.
FTT Worth Evaluation: FTTUSDT Weekly Chart
A current hidden bullish divergence on the weekly timeframe of the FTTUSDT confirms a worth ground for the FTT token at $48.016 because the relative energy index prints greater values above level-25 and units a brand new ATH at $85.00.
We anticipate the bullish marketing campaign to persist so long as the FTT worth trades above the $43.064 help and a projected 2021 all-time excessive above the $85.00 mark.
FTT Worth Evaluation: FTTUSDT Day by day Chart
A view from the each day timeframe exhibits the weekly timeframe worth ground of $48.016, this time confirmed by a daily bullish divergence sample on 28 September ’21.
Such confluence of patterns on the weekly and each day timeframe additional reinforces the choice to renew the uptrend.
Moreover, hidden bullish divergence is flagged at press time and we’re set to witness an upward and parabolic wave of the FTX native cryptocurrency.
We now, discover that the RSI is printing greater readings above level-25. Let’s transfer to the 4HR timeframe to seize the worth pull-back ranges.
FTT Worth Evaluation: FTTUSDT 4 Hr Chart
The entry and exit of oversold territory [level-25] on the intraday 4HR chart above, confirms the worth backside and uptrend noticed on the each day timeframe. We anticipate a rise in demand from this level because the FTT token worth surge towards the $69.744 mark.
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