The Tide May Be Shifting for FTX Token as it Crosses Below Its 50 Day Moving Average

The Hourly View for FTX Token

  • Currently, FTT’s price is down $-0.24 (-0.57%) from the hour prior.
  • This is the 2nd hour in a row FTX Token has seen its price head down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • Of note is that the 20 hour changed directions on FTT; it is now pointing down. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

FTX Token’s hourly price chart is shown below.

FTT

The Daily View for FTX Token

  • At the time of this writing, FTT’s price is up $0.89 (2.17%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as FTX Token has now gone up 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of FTX Token.

FTT

The Latest From FTT’s Blockchain

  • FTT’s count of active addresses now stands at 309.
  • Over the past 29 weeks, the trend for FTT’s daily transaction count has been choppy and unclear. It has oscillated between 148 and 3175.
  • FTT has a count of active addresses of 309, down 11.21% from its value day prior.