FTT Price Surges 7% Amid $53B Crypto Market Loss | Airdrop Alert Pro

FTX Tokens (FTT) have become the best performer of the day, resisting the broader market economy situation. As a general trading activity stall, the total value of cryptocurrencies’ market value has dropped by $53 billion in the past 24 hours.

However, FTT reversed the trend, growing 7%, surpassing the major assets. As data on the chain suggests that bias against it has increased, AltCoin appears to be expected to expand its growth.

ftt leader, others follow

The key sign of new demand for FTT demand is Increased in spot inflows. While Wednesday’s payment is still $205,000, it marks a reversal after several days of outflows, suggesting a gradual shift in market sentiment to Altcoin.

When an asset goes through a field inflow, this means that the purchase of the asset is purchased in the spot market, which is resolved immediately in that market. Therefore, this trend indicates a gradual increase in demand for FTT as its buyers are willing to buy it at current market prices.

In addition, the growing interest in the token’s openness supports this bullish view. As of this writing, it’s $2.03 million, up 10% in the past 24 hours.

Open interest measures the total number of outstanding derivative contracts, e.g. futures or an option that has not been resolved. When the open interest of assets surges during price gatherings, it indicates that more traders are entering new positions instead of closing existing positions, sending a signal Strong market participation.

This trend shows that people are increasingly confident about the current FTT rally, as higher open interest and price increases can indicate a sustained bullish momentum.

FTT Price Forecast: Can the Bulls push it higher?

Evaluation of FTT/USD A chart shows that the token attempts to stabilize above its 20-day exponential moving average (EMA), confirming a gradual change in market trends.

The 20-day EMA has added the average price of assets over the past 20 days to the weight of recent data, making it a response to a short-term trend. When the asset’s price exceeds this key moving average, it marks a shift toward bullish momentum, as traders often see it as an early sign of the upward trend continuation.

If demand strengthens and FTT continues to rally, it could exceed 20 days of EMA and climb to $2.27. Successfully violated this resistance The value of the token can be pushed to $2.57.

However, if the acquisition starts, the token may lose its recent gains and drop to $1.94.