Market & Ticker: CURVE – FTX/USDT
Horizon / Timing: Tactical Mid-term / 1 to 3 months
WARNING : The FTX bankruptcy proceedings are underway. The FTT token no longer has any use and may be liquidated by the estate to pay creditors. Please proceed with caution
FTT is the Native token from the FTX platform which is still in bankruptcy process after the scandal concerning Sam Bankman-Fried and the whole FTX organization.
(FOMO) However the FTT is still listed and continues to generate high volatility move offering opportunity (considering the very high risk related to this asset). The technical analysis can provide signal and element calling for probability to see a larger rise in a market consencus leads by the reopening of FTX platform in 2024 and recently with the obligation from Binance US and CZ to cease their operation in US opening the door for FTX next adventure to a quiet empty competitive landscape.
At the current price the upside potential of FTX Token could benefit from a global F.O.M.O pressure creating an irrational recovery towards 9.00 and 17.00 as long as 2,40 remains a support valid – 3,85 acting as first key support in case of direct bullish acceleration.
**WARNING : The FTX bankruptcy proceedings are underway. The FTT token no longer has any use and may be liquidated by the estate to pay creditors. Please proceed with caution. **
Technical Key Elements:
Auto similar move potential shows target at 17
RSI indicator is positive without divergence
Triangle Pattern is calling for a direct recovery above 3,85
Fibonacci key support is adjusted at 2,40 while the Elliot wave shows upside potential towards 5,60 and 9,00
Trade Idea conclusion: Buy - Conviction:
Medium (HIGH RISK TOKEN)
Target 2: 17.00
Target 1: 9.00
Stop: 2,40 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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