FTX Token (FTT) Forecast: Analyst Predicts Rally to $4

Captain Faibik, a well-known analyst on X, predicts a significant rise for FTX Token (FTT), expecting a midterm rally of about 180% to reach a target price of $4.

His analysis, based on the FTT/USDT daily chart, highlights potential market trends and investment opportunities.

Buying some $FTT with low Risk for the Midterm, Expecting +180% Bullish Rally..!!

Midterm target : 4$ 📈#Crypto #FTT #FTX pic.twitter.com/fWP3Ib4uGw

— Captain Faibik (@CryptoFaibik) July 12, 2024

Currently, the FTT/USDT pair is in a descending channel with lower highs and lower lows, indicating a bearish trend. The price is around $1.36, near the channel’s lower boundary, which has provided strong support.

A breakout above the channel’s upper boundary could signal a bullish reversal, with potential momentum towards the $4 target.

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FTT currently has a 24-hour trading volume of $33 million, with a price surge of around 6% during the same period.

FTT’s all-time high was $84.18 in September 2021, and the current price is significantly lower, indicating potential for substantial gains if the rally occurs. Altouugh the FTX exchange behind the token went into bankruptcy, the token still shows signs of activity.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.