FTTToken
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FTX Token Set for a 160% Surge Ahead of Key Hearing
The FTX (#FTTđ„đ„ ) token has become a hot topic due to speculation surrounding FTX's plans to repay its creditors and customers. With a crucial hearing scheduled for October 7, investors have shown increased interest in FTT, driving its value up significantly.
Preparing for a 160% Price Surge
Ahead of the hearing, traders have been flocking to the #FTTToken , and its technical setup suggests a potential price surge of up to 160%. This increase could push $FTT to reach a 10-month high.
FTT Draws the Attention of Traders
Currently, the FTX token is trading at $2.23, reflecting a 64% increase over the past week. This rally is largely fueled by the anticipation of the October 7 hearing, where discussions on repaying creditors and customers will take place.
Sunil Kavuri, a representative of FTX's creditors, stated that if the court approves the repayment plan, creditors owed less than $50,000 could start receiving payments by the end of 2024. Those with larger claims may have to wait until mid-2025.
Increased Activity of Dormant Tokens
Data from Santiment shows that long-held tokens have started changing hands, signaling market anticipation. The token consumption metric, which tracks the movement of long-held coins, has seen a sharp increase.
Additionally, positive daily active addresses (DAA) for FTT, which measure asset price movements against daily active addresses, have risen by 25.46%, indicating growing demand for FTT.
This rally, accompanied by positive DAA divergence, is a bullish sign that suggests increasing interest and potential for further price growth.
FTT Price Prediction: All Eyes on the Court
The growing balance volume of FTT confirms a sharp increase in accumulation ahead of the October 7 hearing. The buying and selling pressure indicator is now at its highest level since December 2023, rising by 69% in the last four days.
If the on-balance volume (#OBV ) exceeds previous highs, it indicates that the token could break through resistance levels, signaling a strong bullish trend. Buyers are accumulating assets, which could lead to a price surge.
Should the court approve the repayment plan and buying momentum accelerates, FTT could break resistance at $4.91 and rise to $5.98, marking a 160% increase from its current price.
On the other hand, if the repayment plan is rejected, profit-taking activity could rise, potentially driving the price of FTT down to $1.
Preparing for a 160% Price Surge
Ahead of the hearing, traders have been flocking to the #FTTToken , and its technical setup suggests a potential price surge of up to 160%. This increase could push $FTT to reach a 10-month high.
FTT Draws the Attention of Traders
Currently, the FTX token is trading at $2.23, reflecting a 64% increase over the past week. This rally is largely fueled by the anticipation of the October 7 hearing, where discussions on repaying creditors and customers will take place.
Sunil Kavuri, a representative of FTX's creditors, stated that if the court approves the repayment plan, creditors owed less than $50,000 could start receiving payments by the end of 2024. Those with larger claims may have to wait until mid-2025.
Increased Activity of Dormant Tokens
Data from Santiment shows that long-held tokens have started changing hands, signaling market anticipation. The token consumption metric, which tracks the movement of long-held coins, has seen a sharp increase.
Additionally, positive daily active addresses (DAA) for FTT, which measure asset price movements against daily active addresses, have risen by 25.46%, indicating growing demand for FTT.
This rally, accompanied by positive DAA divergence, is a bullish sign that suggests increasing interest and potential for further price growth.
FTT Price Prediction: All Eyes on the Court
The growing balance volume of FTT confirms a sharp increase in accumulation ahead of the October 7 hearing. The buying and selling pressure indicator is now at its highest level since December 2023, rising by 69% in the last four days.
If the on-balance volume (#OBV ) exceeds previous highs, it indicates that the token could break through resistance levels, signaling a strong bullish trend. Buyers are accumulating assets, which could lead to a price surge.
Should the court approve the repayment plan and buying momentum accelerates, FTT could break resistance at $4.91 and rise to $5.98, marking a 160% increase from its current price.
On the other hand, if the repayment plan is rejected, profit-taking activity could rise, potentially driving the price of FTT down to $1.
FTT is building up steam! đđ„
The FTT chart is showing signs of life with steady consolidation just above $1.30, looking like it's ready to make a move. The 25-day moving average is closing in on the price, and volume is starting to tick up slightly. This could indicate a potential breakout, especially with the resistance levels sitting around $1.40-$1.50. If the bulls take charge, we might see a run toward the $1.60 range. đ
But keep in mind, the market still seems undecided, with some sideways movement over the past few weeks. If buyers donât step in strongly enough, we could see a retrace back to $1.20. Overall, FTT seems to be in a calm before the storm, and the bulls could soon take control. Letâs see if this coin has what it takes to push higher! đȘ
Follow for more updates and donât forget to share your thoughts in the comments! đŹ
#FTTToken #CryptoBulls #FTTBreakout #CryptoTraders #CryptoForecast
The FTT chart is showing signs of life with steady consolidation just above $1.30, looking like it's ready to make a move. The 25-day moving average is closing in on the price, and volume is starting to tick up slightly. This could indicate a potential breakout, especially with the resistance levels sitting around $1.40-$1.50. If the bulls take charge, we might see a run toward the $1.60 range. đ
But keep in mind, the market still seems undecided, with some sideways movement over the past few weeks. If buyers donât step in strongly enough, we could see a retrace back to $1.20. Overall, FTT seems to be in a calm before the storm, and the bulls could soon take control. Letâs see if this coin has what it takes to push higher! đȘ
Follow for more updates and donât forget to share your thoughts in the comments! đŹ
#FTTToken #CryptoBulls #FTTBreakout #CryptoTraders #CryptoForecast
