FTT Tops Gainers List with 8% Surge While Crypto Market Declines
- FTT token rises 8%, reaching $2.96 with a market cap of $972.99 million.
- The tokens trading volume increased by 11.17%, reflecting high investor activity.
FTT token has surged by 8% in the last 24 hours, topping the gainers list. It is currently trading at $2.96, marking a 7.72% increase in one day. The tokens market capitalization has reached $972.99 million, reflecting a 7.66% growth. The 24-hour trading volume stands at $45.33 million, with an 11.17% increase. The volume-to-market cap ratio is 4.67%, showcasing high trading activity.
The global crypto market cap has dropped by 0.39%, totaling $3.35 trillion. However, FTTs performance contrasts this trend, highlighting investor interest. The tokens circulating supply is 328.89 million FTT, matching the total supply.
Technical Analysis of FTT
FTTs chart reveals critical support at $2.85 and resistance at $3.08. If the price breaks above $3.08, it could aim for $3.50. A fall below $2.85 might trigger a retest of $2.60. These levels play a significant role in determining FTTs near-term price direction.
The Relative Strength Index (RSI) currently stands at 55.66, slightly above its average of 54.50. This signals mild bullish momentum, suggesting the token is in a neutral zone with the potential for upward or downward movement.
The Moving Averages (MA) provide more insight. The 9-day MA is at $2.79, while the 21-day MA is at $2.93. The recent crossover, where the 9-day MA rises above the 21-day MA, signals a bullish trend. Such crossovers often indicate buying pressure and a potential price rally.
Furthermore, the consistent alignment of candles near the moving averages suggests price consolidation. This often precedes a breakout, which could move FTT significantly in either direction. Traders should monitor volume levels alongside these indicators for confirmation.
FTTs price momentum appears to favor bulls for now. However, breaking critical resistance levels is essential for sustained upward movement. On the downside, if support fails, it could lead to a short-term correction.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
