{"id":6826,"date":"2022-08-17T22:12:10","date_gmt":"2022-08-17T22:12:10","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/08\/17\/what-next-for-the-ftx-token-as-it-fails-another-breakout\/"},"modified":"2022-08-17T22:12:10","modified_gmt":"2022-08-17T22:12:10","slug":"what-next-for-the-ftx-token-as-it-fails-another-breakout","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/08\/17\/what-next-for-the-ftx-token-as-it-fails-another-breakout\/","title":{"rendered":"What next for the FTX token as it fails another breakout?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<ul style=\"margin-top:0;margin-bottom:0\">\n<li>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:0pt\">FTX trade has witnessed rising buying and selling volumes.<\/p>\n<\/li>\n<li>\n<p>The trade has remained secure whereas most crypto exchanges scaled down in the bear market.<\/p>\n<\/li>\n<li>\n<p>FTT is correcting after failing a breakout for a second time.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">FTX token FTT\/USD is as soon as once more sliding after hitting the $32 stage. This is the second time in lower than a month that the token has hit the stage. It means that consumers are nonetheless pushing to interrupt above the resistance zone. Exhaustion is settling in once more after a failed second breakout.<\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">Exchange-linked tokens are pushed by a surge in buying and selling volumes. FTX has been a beneficiary of slowdowns in buying and selling volumes in rivals Coinbase and OKX. For instance, in May, buying and selling volumes on FTX rose by 80.8% to hit $69.4 billion. Coinbase noticed an increase of solely 10%, whereas OKX buying and selling volumes fell by 29.4%. The rise in buying and selling volumes underlined belief in FTX\u2019s stability as most friends scaled down.<\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">FTX\u2019s rising function in the crypto area has been highlighted in the worth restoration of its token FTT. The token has been buying and selling on a bullish trendline since bottoming at round $21 in June.<\/p>\n<h2 style=\"line-height:1.295;margin-top:18pt;margin-bottom:4pt\">FTT rejected at resistance, forcing a bear weak point<\/h2>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\"><img decoding=\"async\" src=\"https:\/\/media.igms.io\/2022\/07\/17\/1660768105577-0c738673-ff04-4168-bf38-37a53b6ddcf3.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\"\/>Source \u2013 TradingView<\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">The MACD line has crossed beneath the shifting common after FTT failed to interrupt the $32 barrier. The token can also be breaking beneath the short-term 21-day MA. The slowdown signifies bull exhaustion as the worth hit $32.<\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">FTT will proceed to slip in the next few days. However, the most definitely reversal zone is round $28. The stage is a help, and bulls might look to arrest the bear weak point earlier than sliding beneath the 50-MA.<\/p>\n<h3 style=\"line-height:1.295;margin-top:14pt;margin-bottom:4pt\">Summary<\/h3>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">FTX token faces additional declines. However, the token might reverse at $28 or the 50-day MA. The token must clear $32 earlier than shifting larger.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/what-next-for-the-ftx-token-as-it-fails-another-breakout\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] FTX trade has witnessed rising buying and selling volumes. The trade has remained secure whereas most crypto exchanges scaled down in the bear market. FTT is correcting after failing a breakout for a second time. FTX token FTT\/USD is as soon as once more sliding after hitting the $32 stage. This is the second 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