The post FTX Price Prediction: How Will FTX Repayment Impact The FTT Price? appeared first on Coinpedia Fintech News
As per the latest update, the FTX exchange is set to repay creditors starting from the 18th February 2025 (Tomorrow). Reportedly, wallets owed less than $50,000 will receive funds within 3 business days. With this, a major step in the long road to recovery has been initiated.
With a strong bullish breakout and the ongoing repayment plan, will the FTT crypto price record a new 52-week in this altcoin market? In this article, we at CoinPedia have covered the short-term market sentiments and possible FTX token price analysis just for you!
FTT Price Records Increased Price Volatility!
The price of FTX token has added 2.13% to its valuation over the past 24 hours with a trading volume of $24.967 million. Furthermore, it has jumped 15.13% over the last seven days. This highlights an increase in the buying-over-selling pressure for the altcoin in the crypto market.
The Relative Strength Index (RSI) records a sharp drop above the neutral point in the daily time frame. However, its technical indicator displays a positive rise, suggesting mixed price action for the altcoin in the crypto market.
On the other hand, the EMA 50/200-day witnessed a Death Cross in the FTX token price chart. This indicates a rising uncertainty for the 94th largest crypto token.
How High Will FTX Price Go?
Suppose, the bulls maintain the FTT price above its support level of $2.2050, this could result in it heading toward its resistance level of $2.8360. Furthermore, if the bullish sentiment intensifies, the FTX token could head toward its upper resistance level of $3.50.
Conversely, if a trend reversal occurs, the FTT coin price could break down its immediate support level of $2.2050. Moreover, if the bearish sentiment intensifies, this altcoin could plunge toward its crucial support level of $1.58 this month.
Are you one of many who are curious to find out answers to questions like Will FTX token reach $5? Read CoinPedia’s latest FTX Token Price Prediction today!
FAQs
As per the latest reports, 98% of customers submitted claims worth less than $50,000 and are expected to receive ~118% of the USD value of their claim. Notably, the calculations will be processed as per November 11, 2022 crypto prices.
If the bullish momentum sustains, the FTT price could reach a maximum trading value of $5.50 this year.
At the time of writing, the value of one FTT token was $2.2172.
