Thursday, August 14, 2025
Daily Crypto Post
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
Daily Crypto Post
No Result
View All Result

FTT’s 16% Surge: A Bullish Breakout?

Munene Timothy by Munene Timothy
December 24, 2024
in News
Reading Time: 4 mins read
FTT's 16% Surge A Bullish Breakout
Share on FacebookShare on TwitterShare on RedditShare on Telegram
  • FTT breaks out of a descending wedge, suggesting decreasing selling pressure and renewed buyer interest at $3.26.
  • Critical resistance at $3.50 could shape FTT’s trend; a breakout may target $4.50, while rejection risks a pullback to $2.75.
  • Golden cross formation between 50- and 200-day moving averages confirms sustained bullish momentum and growing market optimism.

The FTT token, native to the bankrupt FTX exchange, has surged by 16%, trading at $3.26 at press time. This aligns with the growing optimism surrounding FTX’s reorganization. 

As announced, the effective date for the reorganization plan is January 3, 2025, with initial distributions expected within 60 days of this date. 

Related articles

Pump.fun Circulating Supply Drops to Just 21.43% of LetsBONK, Market Share Shrinks to 22.2%

Pump.fun Circulating Supply Drops to Just 21.43% of LetsBONK, Market Share Shrinks to 22.2%

August 4, 2025
XRP Price Prediction for Aug 3 — Will $2.95 Hold or Break in This Pivotal Setup

XRP Price Prediction for Aug 3 — Will $2.95 Hold or Break in This Pivotal Setup?

August 2, 2025

Distributions will primarily occur in stablecoins through partners BitGo and Kraken. Analyst Andrew Griffiths noted FTT has broken out of a descending wedge pattern, associated with bullish market movements.

#FTT FTT/USDT has broken out of a bullish pattern, signaling potential upside.
Key Level to Monitor:
Yellow Resistance Zone: This is the area to watch, as sellers could return here.
The breakout looks promising, but keep an eye on how price reacts at this resistance. Are you… pic.twitter.com/eoKbRPkSA6

— Andrew Griffiths (@AndrewGriUK) December 23, 2024

Bullish Momentum Breakout 

FTT has broken out of a descending wedge, a pattern that indicates decreasing selling pressure. This movement suggests a resurgence of buyer activity, leading optimism in the market. 

According to Griffiths, the market should watch the resistance zone, which lies near the $3.50. This level is a critical point where sellers might re-enter the market. A sustained rise above this zone could suggest continued bullish momentum, while a rejection may pull the price back to lower levels.

The price trends align with broader bullish indicators, supported by moving averages and high trading volumes. The 50-day moving average currently is at $2.83, while the 200-day moving average is at $2.75. 

Source: Santiment

Their upward movements confirm sustained positive sentiment. The formation of a golden cross, where the 50-day average crosses above the 200-day average, adds weight to the ongoing bullish trend.

Key Resistance Levels 

FTT now nears the critical $3.50 resistance level, which has been tested multiple times in recent months. Sellers have historically dominated this zone, but a breakout could drive the price toward higher targets, such as $4.00 or $4.50. However, any failure to overcome this level may result in a pullback to $3.00 or even the $2.75 support zone, which aligns with the 200-day moving average.

Additionally, market activity has shown increased activity during key surges, with the current volume standing at 88.75 million. Such activity shows increased interest, though the market should remain keen on shifts in momentum, particularly near resistance levels.

Market Trends 

FTT’s upward movement comes after a period of consolidation between October and November where the token was trading between $2.00 and $3.00. However, the recent breakout above $3.00 indicates renewed bullish momentum.

Moving forward, monitoring the $3.50-$3.70 resistance range is crucial. A break above these levels could boost the bullish outlook, while failure may suggest a temporary consolidation or retracement. Griffiths emphasizes the importance of observing how FTT reacts at this zone to gauge its next direction.

Tags: FTX News

Related Posts

Pump.fun Circulating Supply Drops to Just 21.43% of LetsBONK, Market Share Shrinks to 22.2%

Pump.fun Circulating Supply Drops to Just 21.43% of LetsBONK, Market Share Shrinks to 22.2%

by Munene Timothy
August 4, 2025

Pump.fun's token supply lags at 21.43% of LetsBONK’s, pushing its market share down to 22.2% amid changing user preference. LetsBONK...

XRP Price Prediction for Aug 3 — Will $2.95 Hold or Break in This Pivotal Setup

XRP Price Prediction for Aug 3 — Will $2.95 Hold or Break in This Pivotal Setup?

by Munene Timothy
August 2, 2025

XRP trades above key $2.95 support with bearish MACD and neutral RSI; price action suggests short term consolidation. Price remains...

Ethereum Dips Below $3,500 as Key Support Holds — Market Eyes Discount Window Amid Wider Crypto Pullback

Ethereum Dips Below $3,500 as Key Support Holds — Market Eyes Discount Window Amid Wider Crypto Pullback

by Veronicah Peninah
August 2, 2025

ETH currently trades at $3,489.96, with recent price action forming a discount zone of 10%–30% from local highs. Ethereum’s price...

Paul Atkins Unveils Project Crypto to Reinvent U.S. Capital Markets

Paul Atkins Unveils Project Crypto to Reinvent U.S. Capital Markets

by Irene Mukiri
August 2, 2025

SEC’s Project Crypto aims to modernize outdated rules for blockchain innovation U.S. positions itself to lead global digital finance with...

XRP Market Cap Model Suggests $10B in Buy Orders Could Skyrocket Price to $90

XRP Market Cap Model Suggests $10B in Buy Orders Could Skyrocket Price to $90

by Jonathan Carls
August 2, 2025

Thin liquidity enables massive XRP price jumps with minimal capital inflows Market cap multipliers reveal how $10B could drive XRP...

Load More

Recent News

  • Pump.fun Circulating Supply Drops to Just 21.43% of LetsBONK, Market Share Shrinks to 22.2%
  • XRP Price Prediction for Aug 3 — Will $2.95 Hold or Break in This Pivotal Setup?
  • Ethereum Dips Below $3,500 as Key Support Holds — Market Eyes Discount Window Amid Wider Crypto Pullback
  • Paul Atkins Unveils Project Crypto to Reinvent U.S. Capital Markets
  • XRP Market Cap Model Suggests $10B in Buy Orders Could Skyrocket Price to $90

Popular News

  • KEKIUS Price Prediction for June 2025 Signs of Weak Momentum and Accumulation Battle

    KEKIUS Price Prediction for June 2025: Signs of Weak Momentum and Accumulation Battle

    206 shares
    Share 82 Tweet 52
  • Market Analyst say XRP Could Finally Break Out of Its Current Consolidation in 2-4 weeks If It’s Following 2017

    202 shares
    Share 81 Tweet 51
  • SUI Price Breakout or Fakeout? What Chart Patterns Are Saying

    202 shares
    Share 81 Tweet 51
  • SEC Approves Nasdaq Crypto Index Update to Include SOL, ADA, XLM, and XRP

    203 shares
    Share 81 Tweet 51
  • Bitcoin and Ethereum Face Pressure as 2,500 BTC and 80,000 ETH Hit Exchanges Amid Political Fallout

    203 shares
    Share 81 Tweet 51

Live Crypto News | Bitcoin and Altcoins News & Insights.

Recent News

Pump.fun Circulating Supply Drops to Just 21.43% of LetsBONK, Market Share Shrinks to 22.2%
Pump.fun Circulating Supply Drops to Just 21.43% of LetsBONK, Market Share Shrinks to 22.2%
August 4, 2025
XRP Price Prediction for Aug 3 — Will $2.95 Hold or Break in This Pivotal Setup
XRP Price Prediction for Aug 3 — Will $2.95 Hold or Break in This Pivotal Setup?
August 2, 2025
Ethereum Dips Below $3,500 as Key Support Holds — Market Eyes Discount Window Amid Wider Crypto Pullback
Ethereum Dips Below $3,500 as Key Support Holds — Market Eyes Discount Window Amid Wider Crypto Pullback
August 2, 2025

© Daily Crypto Post. Live Crypto News | Bitcoin and Altcoins News & Insights. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact