- The range of bullish FTT price predictions is $30.40 to $34.80.
- FTT’s price may potentially hit $35 in the near future.
- For 2021, the FTT pessimistic market price forecast is $21.90.
We utilize data, price trends, RSI, and other information about FTT to evaluate the cryptocurrency’s future movement in FTX Token (FTT) price forecast 2021.
FTT is the native cryptocurrency token of FTX, a cryptocurrency derivatives trading platform. FTX is a prominent crypto trading company that is sponsored by Almeda Research. FTX is created by industry experts with a track record of success. The FTX derivatives are stablecoin-settled, and just one global margin wallet is required.
At the time of writing, the FTT price was trading at $26.61 with a 24-hour trading volume of $103,552,201, according to CoinGecko. FTT, on the other hand, has dropped 7.37 percent in the past 24 hours.
Furthermore, there are 94,346,957.52 FTT in circulation. FTT now trades on Binance, Huobi Global, FTX, HitBTC, and Bitcoin.com Exchange, among other cryptocurrency exchanges.
Price Prediction for FTX Token (FTT) in 2021
FTX Token (FTT) is currently ranked 35th on CoinGecko. The price of FTT in 2021 is forecasted using an hourly time period, as shown below.
Hourly Time Frame FTT/USDT Price Chart (Source: TradingView)
Hourly Time Frame FTT/USDT Price Chart (Source: TradingView)A rising wedge pattern may be seen in the chart above. The rising wedge is a bearish pattern that starts broad at the bottom and narrows as prices rise and the trading range narrows. One of the most challenging patterns to identify and trade is the rising wedge pattern.
If the price of the FTT breaks through the resistance level on the hourly time frame chart, it will achieve the goal of $32. Otherwise, if the FTT price breaks through the $28.30 support level, it will drop to the next support level at $25.07. As a result, the FTT’s trend is dependent on the breakout.
Levels of FTT Support and Resistance
The chart below depicts FTT’s support and resistance levels.
Support and Resistance Levels for FTT/USDT (Source: TradingView)
The resistance and support levels of FTT are clearly visible in the hourly time frames above.
- Level 1 Resistance – $30.40
- Level 2 Resistance – $32.20
- $34.80 for Level 3 Resistance
- Level 1 Support – $28.10
- Level 2 Support – $25.30
- Level 3 Support – $21.90
FTT has been on a bullish trend for the last month, according to the charts. If the current trend continues, FTT may be able to catch up with the bulls and break over the $34.80 resistance mark.
In the event that investors turn against crypto, the price of FTT may drop to almost $21.90, indicating a negative indication.
Average Directional Index for FTX Token (FTT) (ADX)
Let’s take a look at FTT’s average directional index (ADX). The Average Direction Index (ADX) is a tool that traders use to assess the strength of a trend rather than its direction. It may be used to see whether the market is shifting or if a new trend is beginning. It’s linked to the Directional Movement Index (DMI) and consists mostly of the ADX line.
The oscillator has a range of 0 to 100. A strong trend is indicated by a high value, whereas a weak trend is shown by a low value. It’s often used in conjunction with directional indications.
The ADX of FTT remains above the range of 13, indicating a weak trend, as seen in the chart above.
Conclusion
The FTT is one of the cryptos that has managed to hold its footing in a negative market. Our long-term FTT pricing forecast for 2021 is also optimistic. It also has a good chance of breaking over its current all-time high (ATH) of $63.12 this year. However, this will only happen if it overcomes a number of previous psychological barriers.
Furthermore, the FTT ecosystem may have a bright future ahead of it in 2021, thanks to continuous improvements and enhancements. It may soon reach $34.80 and even higher levels, but it is more likely to hit $35 if investors believe FTT is a smart investment in 2021.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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