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2022-01-14 09:30:55

FTT Technical Analysis: Falling Wedge Breakout Brings Bulls Back In Action: Should You Keep Holding Or Buy More?

FTT coin price action gives a bullish breakout of the falling wedge with the growing buying pressure. Should you add more to join the rally? FTT is the official cryptocurrency token for the platform for trading in crypto derivatives FTX. FTX is supported by Almeda Research, which is acknowledged for being one of the most reputable firms in crypto trading and also one of the biggest liquidity suppliers. Sam Bankman-Fried is co-founder, chief executive officer, and co-founder of The FTX Cryptocurrency Derivatives Exchange. He also serves as the chief executive officer of Almeda Research and worked as director of development at the Centre for Effective Altruism. Let us move ahead to read about FTX technical analysis. Past Performance of FTT FTT coin price shows a growth of more than 20% in the past week from $35.5 while giving a fake breakout of the horizontal level at $36. The rally breaks above the falling wedge pattern in the daily chart. Moreover, the price jump of 4% today at press time with a 2% jump in trading volume reflects growth in buying pressure. FTT/USD Daily Chart FTT Technical Analysis The FTT coin price action shows a rally post-retest of the falling wedge breakout in the daily chart. Moreover, the price seems to shortly break above the horizontal level at $44 which will further increase the bullish attention. The crucial EMAs (50, 100, and 200) maintain a bearish alignment with the 50-day EMA providing dynamic r...

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