Twitter Facebook LinkedIn Flipboard 0 FTX crypto (FTT-USD) is finding healthy consolidation after finding support at $20.91 following the Bitcoin crash on the 13th June 2022. The current price levels are reminiscent of summer lows of 2021. Shortly after FTX crypto had another parabolic impulse wave and set an all time high of $84.75. Currently FTX crypto is trading at $27.11 and is down 68% from its all time high. FTX has already bounced back up 37.2% from the crypto crash of the 15th June 2022 where Bitcoin plummeted through the 200-week moving average. FTX must hold the $20.91 support level in order to avoid further depreciation in price. If we see bullish continuation FTX may be able to break back through the $30 zone. Buy FTX Cryptoassets are a highly volatile unregulated investment product. FTX (FTT-USD) Crypto Price Prediction 2022 The recent price action of FTX crypto has been bearish as we’ve been in a continuous macro downtrend. Despite the bearish sentiment, I am quite impressed FTX crypto has only corrected 68% from it’s all time high. The charts reflect that we have held price structure through this supply and accumulation phase. Although current price levels could offer strong opportunities for dollar cost averaging, traders should be reminded that altcoins are especially volatile at the moment and this relief rally could just be a short-term bounce. This is why it makes more sense to accumulate and hold throughout the bear market with a long term strategy of capitalizing in the next crypto bull run. FTX Crypto Price Chart – Daily Time Frame $29.1 persists to be a strong level of resistance for FTX crypto. We have now seen multiple rejections across the resistance trendline. The above image also reflects a bullish divergence as the price action prints lower lows, whilst the relative strength index prints high lows. This could be a sign that the bulls are temporarily winning. Currently we are etching our second consecutive red candle on the daily time frame. If we can see more bullish price action then FTX should have no problems breaking through the above resistance. Though this does depend on the sentiment of the market and the current trajectory of Bitcoin. Upon breakout the technical target I have is $32.41 which would result in a price increase of 13% from current levels. The current FTX crypto price levels are very similar to those seen in 2021. It is quite difficult to say whether we will see another rally of such significance. I would expect a gradual increase in price over the next few weeks if Bitcoin can break out back above the $25,000 level. With this in mind however, I do believe that FTX crypto offers a suitable undervaluation zone for dollar cost averaging and accumulating when applying the long-term hodl strategy. Buying FTX today could potentially be a good idea. What is FTX Crypto (FTT)? FTT is the native crypto token of the cryptocurrency derivatives trading platform FTX. The exchange launched on the 8th of May 2019 and has already seen significant growth. The inspiration behind the FTX exchange was to provide business solutions to existing mainstream crypto futures exchanges. The team spinning the cogs behind the scenes at FTX are actually some of the largest and most quintessential traders in the industry. FTX claims that their unique selling point is their features such as clawback prevention, universal stablecoin settlements and a centralized collateral pool. Why is this significant? Usually a large amount of customer funds on other derivative exchanges can be claimed by socialized losses. FTX strives to reduce this by utilizing a three-tiered liquidation model. Another great benefit of the FTX crypto exchange is that traders can enter leveraged positions without the requirement to trade on margin. For example, if a trader desired to short Bitcoin with 3x leverage, they could simply buy a 3x short Bitcoin leveraged token on the FTX crypto exchange. FTX Crypto Price Prediction 2024-2025 According to Coinmarketcap FTX crypto has a $3.6b market capital. The previous market capital all time high was $9.65b. Currently FTX crypto is ranked #21 in the blockchain space. The FTX crypto exchange is also exploring lucrative business acquisitions. Actually, FTX crypto potentially has an interest in acquiring Robinhood Markets Inc. As FTX is a fully operating exchange and backed by many large investors, the project certainly has the cash reserves to survive through a bear market. This gives confidence to investors and creates a substantial appetite for new potential holders. Using the Fibonacci extension we can explore pragmatic targets for the next crypto bull run. FTX Crypto Fibonacci Extension Levels 1.272 Fib – $103.58. 1.414 Fib – $112.84. 1.618 Fib – $126.14. If I were to create a diverse cryptocurrency portfolio today FTX crypto (FTT) would certainly be added to the list. You can also keep up to date with the latest crypto insights and news from Business2Community by visiting our new Telegram Group. Buy FTX Cryptoassets are a highly volatile unregulated investment product. Related Goldman Sachs Considering Partnership with FTX to Offer Crypto Derivatives Crypto Exchange FTX Extends $250m Line of Credit to BlockFi Crypto Exchange FTX US Set To Roll Out Stock Trading Service Next 10x Crypto - Lucky Block (LBLOCK) Our Rating Listed on LBank, Pancakeswap - Trending in 2022 Crypto Games Platform - luckyblock.com Donations to Charity Free Ticket to Jackpot Draws Passive Income Rewards Worldwide Competitions 10,000 NFTs Minted - nftlaunchpad.com Learn More Twitter Tweet Facebook Share Email This article was written for Business 2 Community by Jacob Bury.Learn how to publish your content on B2C Author: Jacob Bury Jacob Bury got invested in Cryptocurrency during his travels in the Philippines when Covid first broke out in March 2020. He hasn't looked back since. In addition to being a technical analyst and blockchain investor, Jacob has his own YouTube channel with 4,000 subscribers. 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