Lokesh Gupta
08-05-2024
$FTX unveils new bankruptcy plan, prioritizing full repayment for creditors with a focus on customer claims.
$FTX token witnesses a strong bullish reversal, surging by around 41% over the past 24 hours, from $1.6300 to $2.3080.
Within the last eight days, #FTT has surged by 70%, signaling a significant uptick in bullish sentiment.
#FTT price has been on a bearish trend since the start of the year, dropping by 69.50% from $3.4750 to $1.056 by mid-April, indicating waning investor interest.
Following this, FTX price maintained a neutral position, trading within a range of $1.060 and $1.6000 for some time.
Encouragingly, the price has gained momentum this week, experiencing a bullish reversal amid increased market volatility.
With the current bullish momentum, FTX (FTT) could challenge the $2.4000 resistance level. If sustained, it may target upper resistance at $3.300 in the upcoming week.
According to Coingabbar Price Analysis, Conversely, in the event of a bearish reversal, the price might test support at $1.6000.
Continued bearish dominance could drive the price down towards the critical support level of $1.050 by the end of this month.
KEY LEVELS :
RESISTANCE LEVEL : $3.00-$4.50
SUPPORT LEVEL : $1.25-$0.50
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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