FTT Technical Analysis: Falling Channel Breakout Teases 15% Price Jump

FTT price action shows a bullish reversal ready to surpass the long-coming resistance trendline and challenge the sellers at $30. Key technical points: The FTT price has increased by 6.80% in the last 24 hours. The price action shows a bullish breakout possibility of a falling channel. The 24-hour trading volume of FTX Exchange is $98 Million, indicating a hike of 18%. Past Performance of FTT FTT prices show a sharp fall from the $52 mark in late March, resulting in a downtrend in a falling channel fashion, accounting for a 50% price drop. The downtrend takes support at the $25 mark, which buyers capitalize on to challenge the long-coming resistance trendline. Moreover, the lower price rejection in the previous daily candles hints at a price jump to $30. Source- Tradingview FTT Technical Analysis FTT price action shows a gradual rise in trading volume that takes a bullish side as the lower price rejection projects a refusal to stay lower at $25. Hence, traders can shortly find a bullish entry opportunity as the prices surpass the resistance trendline. The most important daily EMAs (50, 100, 100, and 200-days) continue to fall in a bearish line with the 50-day EMA that provides dynamic resistance. Therefore, the EMAs show the long-running correction phase. Its MACD, along with the signal line, exhibits an upward trend, with an increase in the buying pressure. It is evident by the increasing trend of bullish histograms. Furtherm...