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.

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.