As per the latest update, the FTX exchange is set to repay creditors starting from the 18th February 2025 (Tomorrow). Reportedly, wallets owed less than $50,000 will receive funds within 3 business days. With this, a major step in the long road to recovery has been initiated.
With a strong bullish breakout and the ongoing repayment plan, will the FTT crypto price record a new 52-week in this altcoin market? In this article, we at CoinPedia have covered the short-term market sentiments and possible FTX token price analysis just for you!
The price of FTX token has added 2.13% to its valuation over the past 24 hours with a trading volume of $24.967 million. Furthermore, it has jumped 15.13% over the last seven days. This highlights an increase in the buying-over-selling pressure for the altcoin in the crypto market.
The Relative Strength Index (RSI) records a sharp drop above the neutral point in the daily time frame. However, its technical indicator displays a positive rise, suggesting mixed price action for the altcoin in the crypto market.
On the other hand, the EMA 50/200-day witnessed a Death Cross in the FTX token price chart. This indicates a rising uncertainty for the 94th largest crypto token.
Suppose, the bulls maintain the FTT price above its support level of $2.2050, this could result in it heading toward its resistance level of $2.8360. Furthermore, if the bullish sentiment intensifies, the FTX token could head toward its upper resistance level of $3.50.
Conversely, if a trend reversal occurs, the FTT coin price could break down its immediate support level of $2.2050. Moreover, if the bearish sentiment intensifies, this altcoin could plunge toward its crucial support level of $1.58 this month.
Are you one of many who are curious to find out answers to questions like Will FTX token reach $5? Read CoinPedia’s latest FTX Token Price Prediction today!
As per the latest reports, 98% of customers submitted claims worth less than $50,000 and are expected to receive ~118% of the USD value of their claim. Notably, the calculations will be processed as per November 11, 2022 crypto prices.
If the bullish momentum sustains, the FTT price could reach a maximum trading value of $5.50 this year.
At the time of writing, the value of one FTT token was $2.2172.
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