FTT : Long term bearish but a good game for short term
FTX token is in our radar right now as the price of this token is now trending slightly above the crucial support of $23 which is becoming the last defending area to maintain the bullish structure in higher degree.
Price is now trending inside of this parallel channel which it's highly affected by the bitcoin's current price action. However, we still see possibility for the price to show us another upside pump to the area of $37 because of current extreme oversold condition in the market.
We are very confident to see the possibility of moving up in upcoming structure which the area of $37 is needed to be touched for making this as a healthy bearish structure.
Overall bias on current structure is to test the area of $8.7 which is very bearish on long term. But for short term, it's still a good game to expect upside spike to $37.
Price is now trending inside of this parallel channel which it's highly affected by the bitcoin's current price action. However, we still see possibility for the price to show us another upside pump to the area of $37 because of current extreme oversold condition in the market.
We are very confident to see the possibility of moving up in upcoming structure which the area of $37 is needed to be touched for making this as a healthy bearish structure.
Overall bias on current structure is to test the area of $8.7 which is very bearish on long term. But for short term, it's still a good game to expect upside spike to $37.